Possible trend shift in EURJPY – going long
The Tidal Shift Strategy has just bought EURJPY at 120.642. The system recommends entering this trade at any price between 120.231 and 121.053. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at 1.47, which suggests that the EURJPY could be trending upwards.The 14-period Average True Range on a daily chart is 0.329, so the stop loss has been set at 118.997. 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.
Signal ID: 70837
Time Issued: Monday, 02 March 2020 23:00:15 GMT
Status: open
Entry: 120.231 - 121.053
Limit: N/A
Stop Loss: 118.997
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Past Performance is not an indicator of future results.
Signal ID: 70837
Time Issued: Monday, 02 March 2020 23:00:15 GMT
Status: open
Entry: 120.231 - 121.053
Limit: N/A
Stop Loss: 118.997
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.
Past Performance is not an indicator of future results.
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