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 ReBounce AUDUSD 1H
setup. The originating Shatterbounce on the Daily chart is still in effect, and the 1H is now entering a zone to continue the original trend. A reversal divergence trade on the 1H chart with 4H oversold following Straight Talk Trading reversal divergence rules are will make for a valid ReBounce provided it does not go below the 1.0633 level marked.
Direction: Long
Reason: Price is at a level where it is likely to confirm an original Shatterpoint setup, offering a chance at a second entry.
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