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USD/CHF

Hello Guys,
we see mainly roumors from the SNB, when a really intervention happened from the bank... it was unannounced (2 weeks ago SNB reduced Libor Rate without notice)...
I remain bullish for the Chf untill a real intervention, beyond the "peg", and other roumors. Tehnically, on USD/CHF and Eur/Chf, we have a very important resistance area, with 61,8 Fibo, Downtrend line (Dynamic resistance), last daily support has become resistance, 50 DMA... so... we wait to see price action to the key level

Any thoughts on this key area??
With respect,
Doctortyby
Quoting doctortyby
Hello Guys,
we see mainly roumors from the SNB, when a really intervention happened from the bank... it was unannounced (2 weeks ago SNB reduced Libor Rate without notice)...
I remain bullish for the Chf untill a real intervention, beyond the "peg", and other roumors. Tehnically, on USD/CHF and Eur/Chf, we have a very important resistance area, with 61,8 Fibo, Downtrend line (Dynamic resistance), last daily support has become resistance, 50 DMA... so... we wait to see price action to the key level

Any thoughts on this key area??...
i agree with u ...i see that 0.8080 is the strong resistance area if its break it will go up like rocket ..but i feel its more likely coming back frm the rsistance as the crisis is not over yet and despite of threats from SNB .... i'll keep buying CHF at these levels keeping a 100 pips stops to save my ass
buying CHF as in shorting this pair ? i am with you , anyone knows when the next swiss government talk ？

Quoting nishantforex
i agree with u ...i see that 0.8080 is the strong resistance area if its break it will go up like rocket ..but i feel its more likely coming back frm the rsistance as the crisis is not over yet and despite of threats from SNB .... i'll keep buying CHF at these levels keeping a 100 pips stops to save my ass
Quoting tankokjian
buying CHF as in shorting this pair ? i am with you , anyone knows when the next swiss government talk ？
yes buying CHF or CHF longs means shorting this pair. There is hardly any hope for USD and EUR crisis who knws how long it goes so till then ...best bet short USDCHF and EURCHF on rallys.
just had a spike , SNB trying to play scare tactics , i laugh off at that.
Quoting tankokjian
just had a spike , SNB trying to play scare tactics , i laugh off at that.
The crisis and size of market is bigger than SNB they might scare but cant change the weekly and monthly trends
Morning All,
i am not taking this trade but just a heads up for breakout traders!
it will be easy 75-100 if this wedge breakout
HK
Attached Image
Quoting nishantforex
i agree with u ...i see that 0.8080 is the strong resistance area if its break it will go up like rocket ..but i feel its more likely coming back frm the rsistance as the crisis is not over yet and despite of threats from SNB .... i'll keep buying CHF at these levels keeping a 100 pips stops to save my ass
Playing with this pair, along with the crosses that move with it. is like trying to catch a bullet sometimes.
I've had success with it but I've also had some troubles too when it moves like it is this morning.
More than a grain of salt is advisable ;)
i finally see this risk appetite pair good for scalpers like me. tight SL , fast exit. if not for the high spreads that is killing me. 4pips average , 100 trades i would have lost 400 pips easily in a day....

if EU managed to break , price will dive down alot.

http://i1187.photobucket.com/albums/...yip1/mkkkk.gif
I See MR whippy is out to play the last couple of days.


pip
Follow The Markets Structure - Patience and Discipline
Looks like it going to go sideways and leaning towards the down side down for a while.
The last intervention, or movement on rumors if you will, was about 18 hours ago.
Eight hours previous to that spike was a definite movement on peg rumors.
Another eight hours prior to THAT spike was, what seems to have been an SNB intervention.

It seems the SNB is doing it's interventions every 16 to 18 hours however, that frequency could tighten up if more news like this keeps hitting.
http://www.bloomberg.com/news/2011-0...-earnings.html
More than a grain of salt is advisable ;)
I have taken a small long from the 15 minute chart @.79573 as there seems to be a trend building into the 60 minute and the 4 hours looks to be going the right way.


pip
Follow The Markets Structure - Patience and Discipline
Quoting jabbawest
Playing with this pair, along with the crosses that move with it. is like trying to catch a bullet sometimes.
I've had success with it but I've also had some troubles too when it moves like it is this morning.
i agree with u but then we have SL to minimize the risk and let the profits run
Quoting pipfarm
I have taken a small long from the 15 minute chart @.79573 as there seems to be a trend building into the 60 minute and the 4 hours looks to be going the right way.


pip
M15 is frightening to look at but catching one of those long candles is a nail biting ride for sure. Volume on M15 is pretty consistent right now too.

Really want to have some fun? Sell CHF/JPY when your sure of a Buy with the USD/CHF or vice versa.

On an aside, does anyone know of a volume indicator with an alert?
More than a grain of salt is advisable ;)
Quoting nishantforex
i agree with u but then we have SL to minimize the risk and let the profits run
Thanks nishantforex and yes, I do use SL for sure but with this pair it's sometimes hard to get your targets entered before it takes a wild swing up or down.
More than a grain of salt is advisable ;)
Quoting jabbawest
Thanks nishantforex and yes, I do use SL for sure but with this pair it's sometimes hard to get your targets entered before it takes a wild swing up or down.
yes jabbawest i see these wild swings as opportunity between i trade on high time frame between support and resistance so it is working for me at the moment.
All those guys who are shorting as its going down fast..keep the intervention threat in mind and protect with SL. and happy piping..cheers
still juice left for it to drop cos there are no space up , haha.
Quoting pipfarm
I have taken a small long from the 15 minute chart @.79573 as there seems to be a trend building into the 60 minute and the 4 hours looks to be going the right way.


pip

Yep trade did not go to plan, should of waited for the break of the high of the previous swing up which never came ,thats my normal entry, small loss there with an exit given by my method at 7946 as the wave started to bend, better trade that i took shortly after was the eurusd break of 1.43504 for 37 pips as the 5 minute was inline with 30 minute.



pipfarm
Follow The Markets Structure - Patience and Discipline
bad news but price doesnt fall what kind of logic is that..
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