I don't think SNB will be there for intervention forever. Also last time the price plateaud around 1.5150. Think I'll hold my 100k short @ 1.5135 with mental stop loss of 1.5200.
Going for 1.5030 target.
EDIT: Didn't use the stop loss at 1.5200 and instead sold some more at 1.5244.
100pips in 10min :S
If I were them I'd ramp it up fast as hell. Trigger all the stops and then slowly sell into all the bids etc that are panicked. Time will tell!
Just read they already used in excess of 3bn to ramp it up.
Got to love the chart below (my 2 sales in blue) ... Last interventions effect lasted for 1-2 days. Then it started evaporating. I wonder what makes SNB think that they can override fundamentals... Of course I have to consider that they're holding a big stick that can beat speculators like myself... But I think odds are on my side for the moment, unless they take the unprecedented action of ramping it up again tomorrow to 1.53-54 area :S
In a way it is a smart move though. Whatever they buy in the hour or so of moving it up they can then unload over 8-48 hours. Also psychology of speculators like myself takes a hit and we'll tend to cover at 1.5040-50 area....
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