Possible trend shift in AUDJPY – going long

FOREXCOM:AUDJPY   Australian Dollar / Japanese Yen
Signal ID: 73060
Time Issued: Wednesday, 26 August 2020 01:00:16 GMT
Status: open
Entry: 76.501 - 76.777
Limit: N/A
Stop Loss: 76.087

The Tidal Shift Strategy has just bought AUDJPY at 76.639. The system recommends entering this trade at any price between 76.501 and 76.777. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at 1.117, which suggests that the AUDJPY could be trending upwards.The 14-period Average True Range on a daily chart is 0.11, so the stop loss has been set at 76.087. 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.

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