What in the world? Look at the EUR/USD chart.
Open: 1.41080 - High: 1.42810, 9:03am London time.
How often has this happened in the past?
HOLYCOW !! Now I’d like to see someone explain that.
Check out the post under “similar threads” below (697 pip GBPUSD spike) for possible explanation if you haven’t already. Gives me the willies!
the swiss are intervening in their currency.
Look at USD CHF.
500 over pips up.
Missed that buy on D TF.
There was something crazy this morning, at 0900 GMT - I was just placing a Short order on CHF/JPY and Price dropped through the floor. Didn’t cost me anything - other than not being in the trade and capturing the move, sigh - but it’s definitely an odd morning. I don’t have an explanation.
Nope there’s nothing fishy going around here, i checked Oanda, IBfx and spot trader price feed and they all showed the same spike.
Thank you for the explanation - couldn’t find anything on any of my news sources. Gutted that I was slow placing CHF/JPY Short…!
Anyway, thanks for clearing it up.
ST
good time to look for shorts.
I think that I was about three minutes late looking for shorts and now that ship has sailed.
Nice 
went in right after pin bar formed in the 4H chart.
Now if only all fundametals offered instant gratification like this, i’d never look at charts ever again :D.
Indeed, crazy times for the markets at the moment. Not sure that relying on this sort of intervention is the makings of a long-term strategy, though, I’m kind of hoping that we get a return to normalcy sometime soon. This sort of stuff can’t go on forever… can it?!
U missed the move by three minutes?..I missed the buy by 15 or so minutes. I saw the D TF chart and I was too lazy to look for S & R levels on smaller TF for entry and a SL.
Was busy watching Body Of Lies.
Switched over 15 minutes later and I realised I missed 500 pips.
:p.
I assume the market will adjust itself back to existing levels or natural levels in the next couple of days unless there is a fundamental shift in market and economic conditions.
Eventually SNB will tire from intervening like the Japanese did. No one has endless pockets.
I guess some banks needed money, so that was a good opportunity now. 
I’ve seen a lot of spikes regarding the swissy, but not that huge. Anyways, that’s a reason I avoided the swissy at all. Because what can go around in your favor can also go against you. I guess some had a hard time get filled on their stop loss order. 
It was me, I was bored, and I had a couple of hundred million to play with, so I just had to poke sum fun at it.
And if you believe that, well you’re more daft than I am
But equally, USD/CHF has been in a lovely downtrend all year, giving some pretty straightforward trading opportunities. As long as Risk is kept at a constant, even traders who got stopped out on one this morning are looking at a nice overall return on USD/CHF this year, if they trade mechanically. So spikes within a trend aren’t always that bad in the grand scheme of things. What is that phrase? Something like ‘the trend is yout friend until the bend at the end’.
ST
ppf, so you are still hanging around with us small femto lot folks here? That’s really nice, lol.
Hm, it all depends on your strats. If you swing with the daily or weekly charts that spike is probably rather a minor dent within the big picture.
Beside of my bots I prefer to look for intraday opportunities every now and then. If you take this time window in consideration, those spikes could turn a winning system to a loser easily. That’s the reason I try to avoid the swissy. When I looked at several pairs I recognized a year ago already that spikes are very used to with swissy pairs. Not so with most other pairs. Probably because the currency is not that liquid as others and the snb can then take care of those nice interventions.
I trade it a lot off the Daily, but also take a fair few trades off the Hourly and 240 charts, intraday or just overnight. With a capped 1% risk it pays over time. I take your basic point, though, spikes are an occupational hazard on this pair!
That’s great, because I can now offer you for a special low price our new product:
Just kidding, but when I searched for hazard this guy popped up in a row with that helmet:
