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Possible trend shift in USDJPY – going short | 7th June 2021

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
The Tidal Shift Strategy has just sold USDJPY at 109.493. The system recommends entering this trade at any price between 109.385 and 109.601. The signal was issued because our Speculative Sentiment Index has hit its most extreme positive level for the past 145 trading hours at 1.386, which suggests that the USDJPY could be trending downwards.The 14-period Average True Range on a daily chart is 0.087, so the stop loss has been set at 109.926. 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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Comments

fall usd /jpy?! ihave this position
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