Extreme trader sentiment points to possible EURJPY downtrend SEL

124.398 - 124.652 Add to Watch List
Signal ID: 65296
Time Issued: Friday, 03 May 2019 01:00:15 GMT
Status: open
Entry: 124.398 - 124.652
Limit: N/A
Stop Loss: 125.032

The Trend Follower Strategy has just sold EURJPY at 124.525. The system recommends entering this trade at any price between 124.398 and 124.652. The signal was issued because our Speculative Sentiment Index is extremely negative, with a value of 1.556. This suggests that the EURJPY could be trending downwards.The 14-period Average True Range on a daily chart is 0.507, so the stop loss has been set at 125.032. 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.