HMC_Trader
Extreme trader sentiment points to possible GBPUSD uptrend
LONG
British Pound / U.S. Dollar (FOREXCOM:GBPUSD) 1.38395 −0.00326 −0.24%
HMC_Trader
4 hours ago
Trend Analysis Chart Patterns GBPUSD GBP USD
Signal ID: 77484
Time Issued: Friday, 03 September 2021 18:00:15 GMT
Status: open
Entry: 1.38728 - 1.39054
Limit: N/A
Stop Loss: 1.38237
The Trend Follower Strategy has just bought GBPUSD at 1.38891. The system recommends entering this trade at any price between 1.38728 and 1.39054. The signal was issued because our Speculative Sentiment Index is extremely positive, with a value of -1.52165. This suggests that the GBPUSD could be trending upwards.The 14-period Average True Range on a daily chart is 0.00654, so the stop loss has been set at 1.38237. 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.
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