USDCHF

looking to buy USDCHF at 1.04870, came within 1 pip and bounced to 1.0516, looking for retest of session lows.

 

This keeps looking like its not coming back, LOL, oh well I'll keep the order in and look at other pairs.

 

Filled this am on long signal and just got a gift but can't find out what exactly happened at London close? anyone know?

 

It's an intervention that happened. BIS on behalf of the SNB in EURCHF spot.

 

forgive me, can you explain this a little more in basic terms...thanks

 

From fxstreet.com

The Swiss National Bank has finally decided to take action to try to avoid the current CHF strengtening. IN the last minutes, the USD/CHF has jumped almost 200 pips from 1.0433 to 1.0615. EUR/CHF has rallied from 1.4140 to 1.4410

 

do you think the gap will be retraced and filled in hours?

 

I think if the overall fx complex was in an uptrend I would say definitely. Here, it's a coin toss but should at least get partial retrace.

 

They just came back on the bid, but gentle this time...

 

I have honestly never seen the USD/CHF go lower than 1.04000 so far and I almost exclusively trade in it for now though I've only recently started trading. I'm looking at it now and it is beginning to shoot up again, don't be fooled by the short term drops.