FXCM-EDU
Long

Possible trend shift in AUDJPY – going long BUY

FX:AUDJPY   Australian Dollar / Japanese Yen

72.276 - 72.81 Add to Watch List
Signal ID: 67500
Time Issued: Tuesday, 13 August 2019 21:00:16 GMT
Status: open
Entry: 72.276 - 72.81
Limit: N/A
Stop Loss: 71.474

The Tidal Shift Strategy has just bought AUDJPY at 72.543. The system recommends entering this trade at any price between 72.276 and 72.81. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at 13.296, which suggests that the AUDJPY could be trending upwards.The 14-period Average True Range on a daily chart is 0.214, so the stop loss has been set at 71.474. 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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