Possible trend shift in EURUSD – going short | 23rd Nov for FX:EURUSD by FXCM

Possible trend shift in EURUSD – going short | 23rd Nov
Euro / U.S. Dollar (FX:EURUSD) 1.12507 0.00160 0.14%
5 hours ago
Trend Analysis Harmonic Patterns Chart Patterns EURUSD EUR USD

Signal ID: 78368

Time Issued: Monday, 22 November 2021 19:00:15 GMT

Status: open

Entry: 128.987 – 129.337

Limit: N/A

Stop Loss: 128.462

The Tidal Shift Strategy has just bought EURJPY at 129.162. The system recommends entering this trade at any price between 128.987 and 129.337. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at -1.475, which suggests that the EURJPY could be trending upwards.The 14-period Average True Range on a daily chart is 0.14, so the stop loss has been set at 128.462. 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.

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