Where's the Trade? Results Longer Term CHFJPY 3.19 pm London 3/4/12

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

There is a Shatterpoint(TM) Part 2 entry for this trade (one of several variations). A very small position was opened at 91.03 and much more will be added on at 90.74. Targets will be per the Shatterpoint system. 91.74 is the Level 2 Shatterpoint(TM). 91.65 is the part-way exit level for some of the positions to be opened at 90.74. Part 2 scale ins are funded by the profits from the Part 1 entry, and so this trade will not turn into a loss regardless.

Where's the Trade? Results Longer Term CHFJPY 3.12 am London 3/4/12

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 entry for Trade 1 developed in the Shatterzone as expected on the hourly. Entry is on the close of candle marked by the vertical line. It has visited the first target at 90.86. The remainder of the trade would be managed on the Shatterpoint Master System(TM) trade management principles, but from this point on it is a no-loss trade.

Net: Profit. 

Where's the Trade? Results CHFJPY 7.53 am London 2/4/12

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?: CHFJPY

This trade went just before the first target and hesitated. With such small targets it was not worth waiting so trade was exited slightly ahead of the entry. With the spread, this probably would have been a breakeven or slight loss.

Net: Would have been a breakeven/slight loss by part of the spread, which is why only higher timeframe trades are being taken on this pair. It would still be a net up or breakeven on the day due to the earlier trade.

Where's the Trade? CHFJPY 7.35 am London 2/4/12

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.

The Trade: STT Shatterbounce(TM) CHFJPY 5M setup. On the way to developing the setups described for the longer term trades, there is yet another Shatterbounce setup on the 5M.This is the second one in sequence, but a legitimate one. As this post goes out the trigger has already occurred so it could potentially develop very quickly. Levels are the same as before. Again, this trade is for illustrative purposes only because the spread prohibits trading such small targets.

Direction: Long

Reason: On multiple timeframes, price is at a level of either price continuation of trend or a temporary trend breakdown. For that reason, it should provide a decent intraday trade. 

Where's the Trade? Results CHFJPY 6.53 am London 2/4/12

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?: CHFJPY

In spite of the time, the 5M trade worked out - hit first target before reversing as expected. We are still on course for the development of the longer term trades.

Net: Would have been a profit, although these smaller timeframe trades are not taken due to the relatively large spread.

Where's the Trade? CHFJPY 5.21 am London 2/4/12

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.

The Trade: STT Shatterbounce(TM) CHFJPY 5M setup. On the way to developing the setups described for the longer term trades, there is another Shatterbounce setup on the 5M. This is a relatively more risky setup due to the time of potential triggering within the Asian session, but nonetheless a valid one. The Shatterzone(TM) is formed of the Shatterpoints indicated.

Direction: Long

Reason: On multiple timeframes, price is at a level of either price continuation of trend or a temporary trend breakdown. For that reason, it should provide a decent intraday trade. 

Where's the Trade? Longer Term CHFJPY 6.58 am London 31/3/12

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. 

Longer Term Calls: The longer term calls are designed to help clients with Shatterpoint Universe(TM) and to anticipate moves in better trending currency pairs, with projected support and resistance levels.

The Trades:  

1.) Most likely immediate trade: STT Shatterbounce Long using the daily as the originating chart. The Shatterpoint is at 90.93, with a maximum retracement level at 90.42. This should generate a trigger on the 1H chart provided the proprietary trade conditions are met. It is expected that this trade will hit only the first target, but if it does go, the ultimate target long is at 95.55.

2.) Second trade: STT Shatterbounce Long with the weekly as the originating chart. Should the first trade reverse, the next trade will develop on the 4H chart. This should occur at or between the two shatterlevels of 89.06 and 88.12. However, it may develop extraordinarily as low as 87.04 from a higher order shatterpoint. As always, the trades should attain first target. If they continue to run, the ultimate long target is again at 95.55. Should the 87.04 level fail following Shatterbounce conditions on the weekly chart, then the 84.37 should be the minimum target on the downside, and various Shatterbounce conditions short will trigger using the daily and the 4H as the originating charts.