Possible trend shift in EURJPY – going short

Possible trend shift in EURJPY – going short for FX:EURJPY by FXCM

Possible trend shift in EURJPY – going short



SELL
125.187 – 125.537
Signal ID: 73175
Time Issued: Thursday, 03 September 2020 07:00:15 GMT
Status: open
Entry: 125.187 – 125.537
Limit: N/A
Stop Loss: 126.061

The Tidal Shift Strategy has just sold EURJPY at 125.362. The system recommends entering this trade at any price between 125.187 and 125.537. The signal was issued because our Speculative Sentiment Index has hit its most extreme positive level for the past 145 trading hours at 1.345, which suggests that the EURJPY could be trending downwards.The 14-period Average True Range on a daily chart is 0.14, so the stop loss has been set at 126.061. This stop loss order is a trailing stop that will move down as the market moves down. 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.

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