Update 9/4
At the outset I said that this trade might never be hit and if it was that it would be a quick win.
Now it has been hit and amounted to nothing. How wrong can you be? Closed for four pips. No risk, no reward.
I could have left it to run until the euro is lifted off the official floor by the rising tide of recovery but I fear that would be an awfully long wait. The SNB keeps it's limitless firepower for another day.
Pip! Pip!
HP
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Update 5/4
Well done to whoever it was who prodded the SNB in the ribs just now. I am somewhat suprised to find my long order hit after all this time.
The SNB is yet to respond. Do you think it has noticed? I think it probably has. Maybe more provocation is needed to wake the beast. It will take a very brave trader to make that second stab.
Pip! Pip!
HP
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26/1
My fellow pipsters,
We must all have noticed by now how the euro is sneaking up on the Swiss National Bank's declared intervention level at F1.20. Dare the shorters provoke the SNB? If they do, I intend to be on the SNB's side.
If I were a sneaky shorter, I would do my sneaking in the night when the SNB is a-snoozing on it's hoard beneath the Alps. The reaction may be quick and fiery so a TP at the recent highs is needed.
Long order at F1.220, TP F1.25
It may never be hit but it will be a quick win if it is.
Pip! Pip!
HP
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