π Overview: CHFJPY's uptrend encounters challenges with a flat top, bearish RSI divergence, and a bearish market sentiment above 90%. The neckline break signals a potential shift.
π Technical Analysis: Flat top, RSI divergence, and neckline break indicate a possible reversal in CHFJPY's upward momentum.
π Trade Strategy: Traders may consider a short position near the 0.236 Fibonacci level, aligning with the technical signals and bearish sentiment.
π Risk Management: Implementing stop-loss orders is crucial to manage risks during potential market reversals.
π Conclusion: CHFJPY presents a short opportunity as technical signals and market sentiment point towards a potential downturn. Exercise caution and employ risk management strategies.
Trade active
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Trade closed: stop reached
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Unfortunately Stop Loss Hit, Market doesnβt play as per analysis.