Extreme trader sentiment points to possible GBPJPY uptrend
The Trend Follower Strategy has just bought GBPJPY at 148.894. The system recommends entering this trade at any price between 148.581 and 149.207. The signal was issued because our Speculative Sentiment Index is extremely positive, with a value of -1.506. This suggests that the GBPJPY could be trending upwards.The 14-period Average True Range on a daily chart is 1.253, so the stop loss has been set at 147.641. 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.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: 59019
Time Issued: Tuesday, 25 September 2018 19:00:10 GMT
Status: open
Entry: 148.581 - 149.207
Limit: N/A
Stop Loss: 147.641
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
79.79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Signal ID: 59019
Time Issued: Tuesday, 25 September 2018 19:00:10 GMT
Status: open
Entry: 148.581 - 149.207
Limit: N/A
Stop Loss: 147.641
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
79.79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.