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EUR/CHF

  • #13,421
  • Dec 14, 2014 11:46pm Dec 14, 2014 11:46pm
Trading the EUR/CHF Long at the moment is the epitome of hope. All those longs hope and pray that the SNB will come to the rescue. I only hope that there are longs out there that have other plays in the market. Really being long just because the SNB said something in very different economic environments is pure hope, nothing more. The trend has been down for a long time now, the technicals are bearish and even the fundamentals don't look sound but still there are plenty of longs, some that have held for 30-40 or more pips in losses, absorbing the costs of each little down tick for what, a peg.

I have my popcorn ready, just hope people have protected themselves in case the SNB fail to hold the peg at 1.2 and all those stops get wiped out.
  • #13,422
  • Dec 15, 2014 1:23am Dec 15, 2014 1:23am
Quoting Razor_trader
Trading the EUR/CHF Long at the moment is the epitome of hope. All those longs hope and pray that the SNB will come to the rescue. I only hope that there are longs out there that have other plays in the market. Really being long just because the SNB said something in very different economic environments is pure hope, nothing more. The trend has been down for a long time now, the technicals are bearish and even the fundamentals don't look sound but still there are plenty of longs, some that have held for 30-40 or more pips in losses, absorbing the...
most longs will be wiped out by negative swap long before any change is made to the floor
  • #13,423
  • Dec 15, 2014 1:17pm Dec 15, 2014 1:17pm
Quoting MiG123
{quote} most longs will be wiped out by negative swap long before any change is made to the floor

Aye, you are right, we are doomed.
  • #13,424
  • Dec 15, 2014 1:34pm Dec 15, 2014 1:34pm
Quoting OberonZhao
{quote} Aye, you are right, we are doomed.
Well, at least it's at the bottom now, from here it can go nowhere but up. If it moves...but volatility is gone,
  • #13,425
  • Dec 15, 2014 1:55pm Dec 15, 2014 1:55pm
Quoting Napoleon180
{quote} Well, at least it's at the bottom now, from here it can go nowhere but up. If it moves...but volatility is gone,
yes, no volatility, what can we eat.
  • #13,426
  • Edited 5:59am Dec 16, 2014 5:47am | Edited 5:59am
Russian crisis, Greek crisis, oil crisis, gold crisis. Since no improvement of these factors can be expected, no changes are possible for the franc.

If one really wants to to to make money with it, should buy goods in Europe and sell in Switzerland. There are virtually no custom duties in doing that.
  • #13,427
  • Dec 16, 2014 12:07pm Dec 16, 2014 12:07pm
Quoting OberonZhao
{quote} yes, no volatility, what can we eat.
SNB sucking from all buyers and sellers by holding the pair in very tight range.
I think SNB buying and selling against strength to keep it in narrow range.
You cannot learn better without losing
  • #13,428
  • Dec 16, 2014 7:20pm Dec 16, 2014 7:20pm
Quoting forexings
{quote} SNB sucking from all buyers and sellers by holding the pair in very tight range. I think SNB buying and selling against strength to keep it in narrow range.
scenario from 2012 all again , bad for retail traders, transfer to futures at least positive swaps
  • #13,429
  • Dec 17, 2014 4:06am Dec 17, 2014 4:06am
Quoting zoran22
{quote} scenario from 2012 all again , bad for retail traders, transfer to futures at least positive swaps
They will take it up a bit before any bad omen to save the floor.
You cannot learn better without losing
  • #13,430
  • Dec 17, 2014 7:20am Dec 17, 2014 7:20am
Quoting forexings
{quote} I think SNB buying and selling against strength to keep it in narrow range.
Yeah see them taking trading classes from Argentina, where the central bank also trade futures.
  • #13,431
  • Dec 17, 2014 7:31am Dec 17, 2014 7:31am
Stop loss buster spike on or before US CPI news, lasted 3 seconds new low 1.9905.
  • #13,432
  • Dec 17, 2014 7:32am Dec 17, 2014 7:32am
WTF! Is this SNB holding the floor?
1.20 isn't safe
You cannot learn better without losing
  • #13,433
  • Edited 7:49am Dec 17, 2014 7:36am | Edited 7:49am
... That was only the spread (brokers). There was no genuine movement...
Attached Image (click to enlarge)
Click to Enlarge Name: ECHF new min 1,2000.jpg Size: 160 KB
  • #13,434
  • Dec 17, 2014 7:38am Dec 17, 2014 7:38am
Hotforex 1.1990
  • #13,435
  • Dec 17, 2014 7:39am Dec 17, 2014 7:39am
SNB has to put it a little above 1.2020 for the safe area. This area isn't safe anymore
You cannot learn better without losing
  • #13,436
  • Dec 17, 2014 7:42am Dec 17, 2014 7:42am
Quoting fun_bucks
Hotforex 1.1990
really?

in my chart 1.20072
  • #13,437
  • Dec 17, 2014 7:46am Dec 17, 2014 7:46am
today fed announcement at 20:00, here colud be nice spikes up or down
  • #13,438
  • Dec 17, 2014 8:06am Dec 17, 2014 8:06am
FXCM too, 1.1991 was my bid low. Poor folks that had their SL to tight, killed some SL's according to volume within those seconds.
  • #13,439
  • Dec 17, 2014 8:19am Dec 17, 2014 8:19am
Quoting Napoleon180
FXCM too, 1.1991 was my bid low. Poor folks that had their SL to tight, killed some SL's according to volume within those seconds.
Broker manipulation.
LMAX was 1.20064 and 1 pip = 1.20054
You cannot learn better without losing
  • #13,440
  • Edited 9:39am Dec 17, 2014 9:01am | Edited 9:39am
The nearest future contract (march 2015) is trading exactly at 1.20000 right now, it's scary.
It used to trade around 1.2006 the past days, now, bid/ask is 1.2000 / 1.2001 with transactions at 1.2000 !

I opened a few longs at 1.2005 thinking... I don't even know what I was thinking !!!
I guess I'm gonna close them with a small loss. With Oil, Russia and Venezuela, I have enough troubles to worry about right now...

This thing (among a lot of others) is nuts...


EDIT: And in the past (2012), we used to see a HUGE buy order at 1.2000 on the futures market (from SNB !?)
There's nothing appearing these days !?
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