Where's the Trade? Results Longer Term CHFJPY 3.58 pm London 6/4/12

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(TM)'s Complete Response Trading System(TM)'s specific entry and exit rules, which are only accessible by STT clients. 

Based on Where's the Trade?: Longer Term CHFJPY

The trade showed signs of weakness and ultimately moved against us. Although the Shatterpoint actually transposed very close to the 89.74 high, the first target was not hit in this case. This is unsurprising in view of the earlier downside momentum, but it is not up to the trader to judge a trade that fulfills the Shatterpoint conditions. The setup is still intact and waiting for another entry signal on the 4H. The estimated loss is about 30 pips.