Where's the Trade? EURGBP 5.26 am London 13/2/12

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'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. 

Where's the Trade? Results AUDUSD 1.01 am London 11/2/12

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

 

Based on Where's the Trade?: AUDUSD

Net: No entry. Price did not give a satisfactory reversal divergence.

Where's the Trade? AUDUSD 4.17 am London 10/2/12

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

The Trade: STT Shatterbounce AUDUSD 1H setup. Trade to be entered long on a bullish reversal divergence on the 1H chart provided that it is below the 1.0723 level marked and it fulfills the STT Shatterbounce momentum conditions.

Direction: Long

 

Reason: On multiple timeframes, price is at a level of either price continuation of trend or a temporary trend breakdown.

 

 

Where's the Trade? Results USDCHF 2.12 pm London 9/2/12

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

Based on Where's the Trade?: No trade was put in, but this was simply to point out that the trade on USDCHF would have worked in this choppy market. It was not taken and obviously will not be counted in the statistics. It would have gone to exactly the initial target and then stopped out the rest of the position for breakeven.

Where's the Trade? 4.42 am London 8/2/12

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

The Trade: There are no clear trade setups as of now following STT rules. The closest is a bottom on USDCHF hourly but it has shown remarkable uncertainty in the previous few hours, making it prone to fake breakouts and sudden moves. In view of that and the volatile news day, the trade is to stand aside. Something may develop later in the day during the New York session.

Where's the Trade? Final Results USDCHF 4.16 pm London 8/2/12

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

Based on Where's the Trade?: USDCHF

There was a reentry on the USDCHF setup which was tricky to trade but ended up being closed for very marginally more than the earlier loss, so the day is slightly up.

Net: Profit.

Where's the Trade? Results USDCHF 6.38 am London 8/2/12

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

Based on Where's the Trade?: USDCHF

USDCHF was closed out for a loss on momentum counter to the trade even though the candle had not closed

Net: Loss.