Extreme trader sentiment points to possible CHFJPY downtrend

108.354 - 108.654 Add to Watch List
Signal ID: 67475
Time Issued: Tuesday, 13 August 2019 03:00:16 GMT
Status: open
Entry: 108.354 - 108.654
Limit: N/A
Stop Loss: 109.103

The Trend Follower Strategy has just sold CHFJPY at 108.504. The system recommends entering this trade at any price between 108.354 and 108.654. The signal was issued because our Speculative Sentiment Index is extremely negative, with a value of 1.791. This suggests that the CHFJPY could be trending downwards.The 14-period Average True Range on a daily chart is 0.599, so the stop loss has been set at 109.102. 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.