3/31/2016 Monthly Manufacturing PMI (0430 EDT)
Forecast: -21.1B
Actual: -32.7B
Previous revision: n/a
SPIKE WITH 2ND PEAK
Started @ 1.4365
1st Peak @ 1.4380 – 0430:24 (1 min)
15 ticks

2nd Peak @ 1.4398 – 0444 (14 min)
33 ticks

Reversal to 1.4370 – 0504 (34 min)
28 ticks

Pullback to 1.4397 – 0518 (48 min)
27 ticks

Reversal to 1.4447 – 0614 (104 min)
12 ticks

Expected Fill: 1.4370 (long)
Slippage: 1 tick
Best Initial Exit: 1.4379 – 9 ticks
Recommended Profit Target placement: 1.4384 (just above the HOD) – move lower

Notes: Small spike climbed to the S1 Mid Pivot and found resistance. Look to exit there with the hovering in the middle of the :31 bar with about 8 ticks. Then it climbed for a 2nd peak of 18 more ticks before reversing to the S1 Mid Pivot / 50 SMA area.