IF SNB wants to guard 1.2000 why not put buy order at 1.2010?
Yesterday it was a matter of seconds to go down below 1.2000.
Today it's "very slowly" approaching 1.2000.
(On my screen it was 1.2007 already).
This means they can't play the surprise card again.
As they stated yesterday they will defend 1.2000 by all means 24/7 and using unlimited quantity of money if necessary.
As I heard earlier there should still be 8 billions on the bid at 1.2000 from yesterday although don't have confirmation (Does any of you heard anything related to that?)
We are in the age of computers and there is just a matter of automation to increase their position if necessary even if they are on vacation.
Therefore today they must be there at 1.2000 otherwise they really and seriously loose credibility and nobody will believe them again (especially after the strong commitments yesterday).
Above that I believe the big sell stops are lurking below 1.1990.
(Otherwise would be triggered yesterday).
So even if we touch 1.2000 in today's slow market it should immediately activate their 8 billions supposedly sitting there and quickly force EURCHF back to at least 1.2020-1.2030 again...Therefore there should not be too much of a slump below 1.2000 today (unless Soros suddenly attacks SNB with 20 billions - in fact he broke BOE back to couple of years earlier)
The big problem for the longs where to put your stop loss.
It should be tight there is no question about that.
But you cannot put below 1.1990 because if the BIG sell stops activated your SL might only be filled 100 pips lower.
And if you put your SL between 1.1990-1.1999 then you risk being triggered again if something similar happens like yesterday (although SNB then should have a thick skin in its face to allow that happen again after all those commitments and excuses).
What is your opinion regarding to where to put the SL?
Today it's "very slowly" approaching 1.2000.
(On my screen it was 1.2007 already).
This means they can't play the surprise card again.
As they stated yesterday they will defend 1.2000 by all means 24/7 and using unlimited quantity of money if necessary.
As I heard earlier there should still be 8 billions on the bid at 1.2000 from yesterday although don't have confirmation (Does any of you heard anything related to that?)
We are in the age of computers and there is just a matter of automation to increase their position if necessary even if they are on vacation.
Therefore today they must be there at 1.2000 otherwise they really and seriously loose credibility and nobody will believe them again (especially after the strong commitments yesterday).
Above that I believe the big sell stops are lurking below 1.1990.
(Otherwise would be triggered yesterday).
So even if we touch 1.2000 in today's slow market it should immediately activate their 8 billions supposedly sitting there and quickly force EURCHF back to at least 1.2020-1.2030 again...Therefore there should not be too much of a slump below 1.2000 today (unless Soros suddenly attacks SNB with 20 billions - in fact he broke BOE back to couple of years earlier)
The big problem for the longs where to put your stop loss.
It should be tight there is no question about that.
But you cannot put below 1.1990 because if the BIG sell stops activated your SL might only be filled 100 pips lower.
And if you put your SL between 1.1990-1.1999 then you risk being triggered again if something similar happens like yesterday (although SNB then should have a thick skin in its face to allow that happen again after all those commitments and excuses).
What is your opinion regarding to where to put the SL?