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

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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:
snapshot

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:

snapshot

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:
snapshot

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!
Note
GBPJPY 8H - Running 1400pips!

snapshot
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