Risk Warning: Trading Forex is inherently risky. This is not a
trade alert service and should not be taken as advice to enter or exit a
trade. It is simply a narrative of what Straight Talk Traders are
watching for, which may or may not happen. What is posted here may or
may not develop into legitimate setups on Straight Talk Trading's
Complete Response Trading System's specific entry and exit rules, which
are only accessible by STT clients.
The Trade: STT Perfect Storm OR STT ReShatter EURGBP 1H
setup. The higher order trend on the 4H, daily and weekly charts could be set to re-start. The preferred trade is a short Perfect Storm reversal divergence signal just above the 0.8403 level marked. Failing that, a ReShatter below that level with reversal divergence will be considered, but with caution, since the ReShatter's original shatter conditions are only marginally met. That said, both trades will be re-evaluated at the time of triggering based on the patterns and broader market conditions, since the markets are largely in retracement from the 1H viewpoint.
Direction: Short
Reason: On multiple timeframes, price is at a level of either price
continuation of trend or a temporary trend breakdown.
Comments: We appear to be seeing a shift in market rhythm so that the clearer trades may start occurring towards the New York session, instead of the London session as they have been lately. Lower timeframe trades may be taken in the London session but they will not be blogged because of their quick nature.
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