Possible trend shift in USDJPY – going long BUY

27. Nov. 2019

108.937 - 109.111 Add to Watch List
Signal ID: 69543
Time Issued: Tuesday, 26 November 2019 15:00:16 GMT
Status: open
Entry: 108.937 - 109.111
Limit: N/A
Stop Loss: 108.676

The Tidal Shift Strategy has just bought USDJPY at 109.024. The system recommends entering this trade at any price between 108.937 and 109.111. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at 1.391, which suggests that the USDJPY could be trending upwards.The 14-period Average True Range on a daily chart is 0.07, so the stop loss has been set at 108.676. 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.