2/2/2016 Monthly Construction PMI (0430 EST)
Forecast: 57.6
Actual: 55.0
SPIKE WITH 2ND PEAK
Started @ 1.4363
1st Peak @ 1.4347 – 0430:00 (1 min)
16 ticks

Reversal to 1.4358 – 0430:10 (1 min)
11 ticks

2nd Peak @ 1.4327 – 0435 (5 min)
36 ticks

Reversal to 1.4369 – 0448 (18 min)
42 ticks

Continued Reversal to 1.4412 – 0534 (64 min)
85 ticks

Expected Fill: 1.4356 (short)
Slippage: 3 ticks
Best Initial Exit: 1.4350 – 6 ticks
Recommended Profit Target placement: 1.4346 (just below the LOD)

Notes: Quick spike recoiled then fell again in the latter part of the :31 bar. Then it continued for a quick and large 2nd peak before a long strong reversal.