Exactly what I was saying.. is this really a surprise??? SNB has been one of the biggest buyers of EUR to defend it and with QE around the corner they finally realized they couldn't afford it anymore.
Ohh, Today I make huge money from this pair by news trading. Actually, I make 600 pips within new min. That is really great feelings for me. Now, I am waiting for next fresh entry.
Do you mean SNB were noobs and went long ? Look at the price, would they not have been extremely wise to sell where I said they did ? By the way, SNB is now buying to square off their shorts.
My only point is this wasn't a complete suprised that they would pull the floor. But you also can't say that a national bank was selling eur when they have a peg in the market. My brother in law trades at a major firm in Chicago and I talked to him. Tons of small retail brokers got caught and now are trying to bust trades..