Possible trend shift in AUDJPY – going long
Signal ID: 73459
Time Issued: Tuesday, 29 September 2020 06:00:15 GMT
Entry: 74.642 – 74.92
Stop Loss: 74.226
The Tidal Shift Strategy has just bought AUDJPY at 74.781. The system recommends entering this trade at any price between 74.642 and 74.92. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at 2.326, which suggests that the AUDJPY could be trending upwards.The 14-period on a is 0.111, so the stop loss has been set at 74.226. This stop loss order is a trailing stop that will move up as the market moves up. There is no profit target for this strategy. We expect to be closed by the stop loss.Tidal Shift is a trend trading strategy that aims to catch shifts in trend using trader sentiment as an indicator. The strategy looks to buy when the Speculative Sentiment Index reaches its lowest value for the past 145 trading hours, and looks to short when it reaches its highest value for the past 145 trading hours.