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EUR/CHF

  • #61
  • Jan 11, 2010 6:23am Jan 11, 2010 6:23am
Quoting dual-c
Sharp rise on E/Chf. FXNews on Oanda just reported that SNB still prepared to intervene in the market. We'll see what happens. Will be interesting to see where they take if they do.
Now i hope so This Pair woll retraces back and will show now bullish movement after a big bearish movement lets see...
  • #62
  • Jan 11, 2010 7:46am Jan 11, 2010 7:46am
Quoting PipHacker
Now i hope so This Pair woll retraces back and will show now bullish movement after a big bearish movement lets see...
Yea guys I think market is still intent on testing SNB's nerve before we go up. We need a real good intervention to take this up. Swiss retail sales data was pretty bad.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #63
  • Jan 11, 2010 8:05am Jan 11, 2010 8:05am
stopped out overnight for +40 pips total, flat now
  • #64
  • Jan 11, 2010 1:37pm Jan 11, 2010 1:37pm
Okay, so I took another long position (smaller compared to my other long positions) at 1.4750 w/ a SL at 1.4690. May add another long around 1.4725-30 area with SL the same. The low 4700s has SNB's attn looks like. Whoever shorts it from here must have steel balls.
  • #65
  • Jan 11, 2010 2:24pm Jan 11, 2010 2:24pm
I am shorting 100 lots!
  • #66
  • Jan 11, 2010 2:31pm Jan 11, 2010 2:31pm
Quoting sidhujag
I am shorting 100 lots!
So what you're saying is, you have steel balls?
  • #67
  • Jan 11, 2010 2:38pm Jan 11, 2010 2:38pm
Quoting dual-c
Okay, so I took another long position (smaller compared to my other long positions) at 1.4750 w/ a SL at 1.4690. May add another long around 1.4725-30 area with SL the same. The low 4700s has SNB's attn looks like. Whoever shorts it from here must have steel balls.
Yea it's pretty good to see the new SNB chairman's first public announcement has to do with preventing the rise in CHF. Cause that dude has a lot of stuff he likes to talk about, like leverage and regulation and all that crap in swiss financial services industry.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #68
  • Jan 11, 2010 2:39pm Jan 11, 2010 2:39pm
Quoting sidhujag
I am shorting 100 lots!
...
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #69
  • Jan 11, 2010 2:44pm Jan 11, 2010 2:44pm
Quoting rahulkghosh
yea dude, it blows. in $400K drawdown here. oh well. i'm holding till 1.50+ and nowhere before. I've been waiting everyday since the 18th on SNB intervention.
How much swap have you made? lol!
  • #70
  • Jan 11, 2010 2:48pm Jan 11, 2010 2:48pm
Quoting dual-c
How much swap have you made? lol!
haha not a penny. I trade on a swap free account. @_@
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #71
  • Jan 11, 2010 2:54pm Jan 11, 2010 2:54pm
Quoting rahulkghosh
haha not a penny. I trade on a swap free account. @_@
DOH!
I've made about 5 pips worth of swap, and have about 300+ more to go to breakeven... lol
  • #72
  • Jan 11, 2010 3:29pm Jan 11, 2010 3:29pm
Quoting dual-c
Whoever shorts it from here must have steel balls.
Speaking of steel balls... probably the only ones who have them are the Swiss banks as they continue to de-leverage. Interesting to see that after Hildebrand commented on combatting excessive franc strength that it's come back down some and not try to re-test the 1.4800 level. On the technical side, the 10 dma has been acting as good resistance, and that is where the spike from last nite went to before retreating. If this pair can break and hold the 10 dma, we could very well see a decent retracement back up (considering no SNB intervention).
  • #73
  • Jan 11, 2010 3:55pm Jan 11, 2010 3:55pm
Here's a quote from Boris Schlossberg from FX360:

"One key factor behind the rally in the franc is the unit’s resurgence as a safe haven currency. Switzerland’s stellar balance sheet stands in sharp contrast to the fiscal woes in the 16 member European union and a result the currency has attracted significant capital flows overwhelming SNB efforts to stem its appreciation. Still, with the pair grossly oversold and Swiss monetary officials seemingly determined to at the very least to slow down the slide, EUR/CHF could pop above 1.4800 on short covering rally."

I hope it will revisit as close as possible to the 1.50 area at the least. Then I'll just dump whatever longs I have above there and then short this pair from that level.
  • #74
  • Jan 12, 2010 6:51am Jan 12, 2010 6:51am
Woow Still Bearish this Pair is...
  • #75
  • Jan 12, 2010 7:01am Jan 12, 2010 7:01am
Quoting PipHacker
Woow Still Bearish this Pair is...
Well see the screenshot of Eur/Chf weekly chart and this is the reason of strong bearish move... As 1.5006 was a very very strong support line on weekly chart which breaks & this strong bearish move was the cause ...
PipHacker
Attached Image (click to enlarge)
Click to Enlarge Name: eur.chf.gif Size: 51 KB
  • #76
  • Jan 12, 2010 4:23pm Jan 12, 2010 4:23pm
Quoting PipHacker
Well see the screenshot of Eur/Chf weekly chart and this is the reason of strong bearish move... As 1.5006 was a very very strong support line on weekly chart which breaks & this strong bearish move was the cause ...
PipHacker
That's not a bounce of support. SNB intervened in that one very bullish week in the 1.47-1.48 region. If only the SNB would intervene like that now...
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #77
  • Jan 12, 2010 4:26pm Jan 12, 2010 4:26pm
Quoting dual-c
DOH!
I've made about 5 pips worth of swap, and have about 300+ more to go to breakeven... lol
Whaa, only 5 pips swap. Bah, my broker pays now like .25 pips swap a day on EUR/CHF, but I don't get any since I'm swap free. Other brokers pay close to 1 pip. I just don't think using swap is worth it for trading. Reason being, usually the negative swap is bigger than the positive swap in magnitude. So over the long-term, if you hold equal amounts of longs and shorts, swap is taking away money from you. I don't really carry trade, so it won't help much.

But there is one freaky thing with my broker, on EUR/AUD they pay positive swap on both longs and shorts. @_@. And the swap is pretty decent, about 1 pip each side.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #78
  • Jan 13, 2010 2:44am Jan 13, 2010 2:44am
1:30 am (mountain time north america) and something/someone is pushing eur/chf up
  • #79
  • Jan 13, 2010 2:46am Jan 13, 2010 2:46am
Quoting dual-c
1:30 am (mountain time north america) and something/someone is pushing eur/chf up
its Moving up like a rocket
  • #80
  • Jan 13, 2010 2:48am Jan 13, 2010 2:48am
i've got a buy stop at 4825. If it gets above 4810, it's going to shoot
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