Short

Extreme trader sentiment points to possible EURJPY downtrend

The Trend Follower Strategy has just sold EURJPY at 127.643. The system recommends entering this trade at any price between 127.402 and 127.884. The signal was issued because our Speculative Sentiment Index is extremely negative, with a value of 1.555. This suggests that the EURJPY could be trending downwards.The 14-period Average True Range on a daily chart is 0.964, so the stop loss has been set at 128.607. 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.Trend Follower is a trend trading strategy that aims to buy and hold rising currency pairs and to sell short and hold falling currency pairs. The strategy looks to buy when the Speculative Sentiment Index is below -1.5, and looks to short when it is above +1.5.

Signal ID: 59639
Time Issued: Thursday, 25 October 2018 00:00:17 GMT
Status: open
Entry: 127.402 - 127.884
Limit: N/A
Stop Loss: 128.607

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