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  • #520,621
  • Aug 11, 2011 1:40pm Aug 11, 2011 1:40pm
Could someone forebear my neglect in this, and say briefly what, other than CB jawboning, might be behind this CHF pegging speculation?
  • #520,622
  • Aug 11, 2011 1:41pm Aug 11, 2011 1:41pm
Quoting OldQuant
Could someone forebear my neglect in this, and say briefly what, other than CB jawboning, might be behind this CHF pegging speculation?

Nothing, that's just it. Bit of rumour mongering to get some covering to get a natural bounce.

Pegging is not going to happen, it will kill the economy over there and the proud Swiss are never going to give up their independence.
  • #520,623
  • Aug 11, 2011 1:42pm Aug 11, 2011 1:42pm
Quoting gatorinla
that sucks.
That's what I call a friend with benefits.
  • #520,624
  • Aug 11, 2011 1:42pm Aug 11, 2011 1:42pm
Quoting OldQuant
Could someone forebear my neglect in this, and say briefly what, other than CB jawboning, might be behind this CHF pegging speculation?
CB jawboning must be top of the list. Worked nicely, too. But...as a last ditch effort, what else could they do? Running out of digits to the south on USDCHF chart. Too much further and surely they will collapse.
  • #520,625
  • Aug 11, 2011 1:43pm Aug 11, 2011 1:43pm
Quoting kenfen69
CB jawboning must be top of the list. Worked nicely, too. But...as a last ditch effort, what else could they do? Running out of digits to the south on USDCHF chart. Much further and surely they will collapse.

And on top of that, they don't have the cash to physically interfere.
  • #520,626
  • Aug 11, 2011 1:43pm Aug 11, 2011 1:43pm
Quoting 2046
That's what I call a friend with benefits.
Damn straight!
  • #520,627
  • Aug 11, 2011 1:44pm Aug 11, 2011 1:44pm
Quoting kenfen69
Damn straight!

That's what she said.
  • #520,628
  • Aug 11, 2011 1:44pm Aug 11, 2011 1:44pm
Thanks, Cloggie and Ken. But Ken, do you really think the Swiss would "peg" to anything? Ever? Dislocations may come and go, but the Swiss mindset is likely forever.
  • #520,629
  • Aug 11, 2011 1:45pm Aug 11, 2011 1:45pm
Quoting fxjawn
just lookin to get out of my short...

Careful with that one here.
  • #520,630
  • Aug 11, 2011 1:45pm Aug 11, 2011 1:45pm
Quoting cloggie
And on top of that, they don't have the cash to physically interfere.
Would have to agree 100%. Whats the point? Everything they have thrown at it has been swallowed...at a rate with an ever shortening half-life.
  • #520,631
  • Aug 11, 2011 1:46pm Aug 11, 2011 1:46pm
Quoting Venice
I would like to point out that even with the fawkery on the daily... We are en route to close with a LL/LH. Maybe this is it... lol. H4 bears are not giving back that much...
It seems the storm has passed (or we are in the eye of the storm). I see your daily LL/LH but also weekly is about to make a a confirmed HL tomorrow (if we don't break todays low) making 2 consecutive HL in the weekly (very compressed) but still LH by a few ticks. The TA importance of that in my view is that if monthly roll give up in this conditions we'll see a break of the triangle on the weekly.

Obviously not implying a trend up yet but at least a fresh high to burst the annoying weekly/daily range....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #520,632
  • Aug 11, 2011 1:46pm Aug 11, 2011 1:46pm
Quoting kenfen69
Would have to agree 100%. Whats the point? Everything they have thrown at it has been swallowed...at a rate with an ever shortening half-life.

They are running out of ammo, their dollar reserves are down to 25%, they got their rates at zero, the only bit of ammo they had left was threatening to peg.
  • #520,633
  • Aug 11, 2011 1:47pm Aug 11, 2011 1:47pm
Quoting OldQuant
Thanks, Cloggie and Ken. But Ken, do you really think the Swiss would "peg" to anything? Ever? Dislocations may come and go, but the Swiss mindset is likely forever.
I have a very hard time believing they would. That's why I favor jawboning. Is talk always cheap? Not so sure in this case. Whomever thought it up deserves more than a "pat on the back" in my mind. At least some chocolates.
  • #520,634
  • Aug 11, 2011 1:48pm Aug 11, 2011 1:48pm
Quoting kenfen69
At least some chocolates.

And a cuckoo clock, the one with cowbells on.
  • #520,635
  • Aug 11, 2011 1:49pm Aug 11, 2011 1:49pm
Quoting cloggie
And a cuckoo clock, the one with cowbells on.
Hahahahahaha...

Knew somebody else would have a good one to add. Well played sir. The clock would be grand to bring home to the missus/fella.
  • #520,636
  • Aug 11, 2011 1:52pm Aug 11, 2011 1:52pm
Quoting cloggie
Careful with that one here.
why? can u explain more? i m newbie so asking
  • #520,637
  • Aug 11, 2011 1:53pm Aug 11, 2011 1:53pm
Quoting sisse
It seems the storm has passed
I am thinking so, too. Restarted today just before 1400ET long at 4207. Not because I'm a raging bull, that's just what the algorithm wanted out at that particular time.

Your "eye of storm" might be apt. But ya gotta pay yo money to take yo chances.
  • #520,638
  • Aug 11, 2011 1:56pm Aug 11, 2011 1:56pm
Quoting TheFutureAce
why? can u explain more? i m newbie so asking
We are running into Daily Roll over in a few short moments, today looks to close a positive candle. This typically doesn't work well for shorting into EOD.


Playing the longs off of previous daily roll, would probably serve better or if in no position, wait until the Asian session retrace on Break zone.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #520,639
  • Aug 11, 2011 1:56pm Aug 11, 2011 1:56pm
Quoting kenfen69
Yeah...I actually missed the whole big run down. Took a few out, but was gone right before it broke. I was tired, though...wasn't focused enough. Glad I did, because that turn was violent!

This is my last 24 hours. Not the most profitable day this week, but my targets are hit. Playing is optional from here on in...my favorite place to be heading into Friday.
good trading man. yea I think i'm pretty much done for the week here, but im sure i'll get myself into a little something later
  • #520,640
  • Aug 11, 2011 1:57pm Aug 11, 2011 1:57pm
Quoting Magix
We are running into Daily Roll over in a few short moments, today looks to close a positive candle. This typically doesn't work well for shorting into EOD.


Playing the longs off of previous daily roll, would probably serve better or if in no position, wait until the Asian session retrace on Break zone.
Sums it up nicely!
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