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CHFJPY TRADE UPDATE
Good Morning Everybody, There is a trade setup that’s developing right now. As we analyze the current market conditions, we can see that both the weekly and daily charts are indicating a bearish trend, which suggests potential downward movement. Additionally, the 4-hour timeframe is beginning to show signs of a shift towards bearish sentiment as well.
Our next key step is to wait for the candle to close in a bearish position at 9 AM. Once that happens, we will be on the lookout for a pullback or retracement in price. This pullback will create an opportunity for us to shift our focus to the smaller timeframes, where we will be monitoring for a definitive change in market structure. By doing so, we can position ourselves to take advantage of potential downward movements in the market. Let’s stay sharp and wait for the right signals!
Our next key step is to wait for the candle to close in a bearish position at 9 AM. Once that happens, we will be on the lookout for a pullback or retracement in price. This pullback will create an opportunity for us to shift our focus to the smaller timeframes, where we will be monitoring for a definitive change in market structure. By doing so, we can position ourselves to take advantage of potential downward movements in the market. Let’s stay sharp and wait for the right signals!
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