📉 Overview: CADJPY, previously bullish, now shows bearish divergence on the 1-hour timeframe, forming its first lower high. With a strong 90% short market sentiment, there is significant support for an anticipated bearish reversal.
📊 Technical Analysis: Bearish divergence and the formation of a lower high suggest a potential shift from bullish to bearish.
📈 Market Sentiment: At 90% short sentiment, substantial support for the expected bearish reversal is evident.
📉 Trade Strategy: Consider short positions, aligning with the bearish signals, and anticipate further downward movement.
🛑 Risk Management: Mitigate risks with effective stop-loss orders to safeguard capital.
📈 Conclusion: CADJPY offers a concise opportunity for a bearish trend reversal, supported by bearish divergence and strong market sentiment. Monitor for confirmation and adjust positions accordingly.
Trade active
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Trade closed: stop reached
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Unfortunately Stop Loss Hit, Market doesn’t perform as per analysis.