2/1/2016 Monthly Manufacturing PMI (0430 EST)
Forecast: 51.8
Actual: 52.9
Previous revision: +0.2 to 52.1
SPIKE / REVERSE
Started @ 1.4310
1st Peak @ 1.4322 – 0430:01 (1 min)
12 ticks

Reversal to 1.4290 – 0447 (17 min)
32 ticks

Expected Fill: 1.4314 (long)
Slippage: 0 ticks
Best Initial Exit: 1.4319 – 5 ticks
Recommended Profit Target placement: 1.4330 (20 ticks)

Notes: Small reaction that occurred in line with the end of an uptrend while also running into strong resistance at the R1 Pivot. This constrained the spike and made it short lived. Look to exit quickly and reverse the order. It reversed 32 ticks in 17 min, then something else caused a big short spike at 0459.