Heads Up: CHF Rate Hike (Sep 14)

i still holding 2 shorts on U/C , hope can tae some profits on it

i guess my prediction was right, bought usd/chf and euro/chf about 2 days before...hopefully this is a start of a looooong trend...since retail sales for usd have been good..

am i correct??!!

seems to me that the technicals will dictate over the fundamentals at the moment - at least until tomorrow's raft of data.

can someone explain why USD/CHF going up when swiss interest rate going up?

Before you ask, first read! Check post #36 . . . I've pasted it here for your convenience.

I am kinda surprised at how many people straddled the Suisse rate announcment and maybe a little more surprise how many people lost or got out so soon.

So many people are looking for that quick spike and exit. Not all data moves behave that way. In fact, all this spikeyness(new word) is kind of unusual.
I offer that you may want to consider being more patient with alot of these data releases. Maybe not straddle the less significant ones and watch the price action after the release for good opportunities.

Take a look at the price action leading up to 8:00 I call this kind of stuff "laser moves". when the price on a 3 or 5 minute chart is moving almost in a straight line on a fairly strong angle. Ask yourself why it is moving like this. Does this look like normal price action to you?

When I see laser moves I am thinking someone is feeding in a large position slowly. The next question I ask is why? The suisse rate increase was expected. That laser move was going in the exact direction you might expect anticipating the release.

Now, you can speculate this and that all day long and in the end maybe you get it right. I, on the other hand, just observe. I observe these laser moves every so often. What did I learn? I learned that when they are over one of two things happen. Everyone gets on board and there is an exhaustion spike or as soon as the big money stops the "feed in" the move reverses abrutley. Again, speculate why all you want. It is fun and fascinating to do so. But, make some money on what you know is coming!

I was hot to trot on this one because it matched up perfectly with my 4HR tech. but unfortunately I was treated to a glitch in my new trading platform that caused it to crash upon opening it. UGH!

MERLIN you are so right about having 2 brokers. And I am with you but I am in transition on the second one. TIMING!

Anyhoo here is a chart depicting the laser move.

Watch for em!!!

Thanks for the re-quotes Maya, I knew its going to bounce back but my head keep telling to go short. Well, this experience is more worthed.

I have been trading with two Brokers when I realized FXCM disables trading on certain situations.

I currently trade with 2 - not the best for news but thats part of the game. I am still looking for a 3rd MT4 based broker. I dont want to relearn another system and am developing my TA strategies using MT4 EA/scripts.

FXOpportunist, You need to teach me your graph skills!

Hey BK,

One of my associates is a "meta head" and he just started using TRADEX. He like it so far and has gotten filled with his straddle bot.

Being an absolute noob at news trading I learned this the hard way. Thanks for your input dude.

Any ideas about the PPI and Industrial Production later on. Just a thought; if theres more than one figure does that usually cause whipsaws? I think i'll just see what happens then jump in.

The amount of data(number of figures released) does not necesarily mean that it will cause high volatility. The significance of the figures and if the figures beat, meet, or fall short of the forcasts is really where the meat is in that type of situation. Sometimes we just don't know and have to wait and see what the market says. In the case of PPI and and Indust. Production early 2morrow morning, I can only suggest trading if both beat the forcast or if both fall short. Anyone have any insight on this specific data release?

CHF @ 2:15am