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
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Based on Where's the Trade?: Longer Term CHFJPY
It has been a quiet day on this pair, although there were opportunities elsewhere, but the objective of this exercise has been to follow the development of this particular pair. Although again not a particularly satisfying setup, it is very likely that the close of this 4H candle will complete the trigger for another long. USDCHF 4H is bearish, which is bullish for this pair. USDJPY 4H is bullish, but still showing too much downside momentum. All in all, another mixed signal to be handled with care. With Barb Wire in play, this setup could shoot straight to target or spike against us very quickly. The setup is hair-trigger so the entry may be aggressively made before the close of the bar.
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