GBPJPY - Multi Year SHORTS Coming! (Over 10,000pips)

22 Haz

Here we have the 2 month chart of GBPJPY. We can see that we're in a massive ending diagonal made up of 5 waves.

We are currently on wave 4 and have almost completed. At the moment we are working within the parameters of a channel however we must be aware that we may exceed the channel. The channel is just there for us to use as a guideline.

In 2007, we have a really nice ending diagonal (expanding) before we made that ridiculous +13k pip drop.

See below for the 2D GBPJPY chart from 2007:


We can see that the lower timeframe diagonal broke down beautifully.

We are anticipating something similar this time round!

See below for the 2D GBPJPY chart of the current diagonal:



We've got an almost identical price action as 2007. We just got to wait a little and watch for the break of the red trendline and enter and hold.

See below for the 2week chart of GBPJPY:


Trade Idea:
- Watch for a break of the ending diagonal
- Alternatively, you can wait for a pullback after the ending diagonal breaks
- stop loss above highs once entry trendline breaks
- Swing Target: 100 (10,000pips)

What do you guys think?

Goodluck and as always, trade safe!

31 Tem

Not

GBPJPY 8H - Running 1400pips!