EURJPY - 2 potential bearish sharks, trade the C-D wave?
There are 2 potential sharks coming up on EURJPY.
Both pointing to EURJPY going higher below coming down.
The 1st mini bearish shark can yield about 100 pts whereas the bigger shark can potentially yield about 600 pips trading the C-D wave.
I term this move the SAMM, where I see a rapid move from the C point of a shark towards the D point.
Previously traded this move on gold and cadchf and both worked out pretty well. (Chinese region TV idea)
You can also consider waiting for the bearish shark to complete before going short.
Both pointing to EURJPY going higher below coming down.
The 1st mini bearish shark can yield about 100 pts whereas the bigger shark can potentially yield about 600 pips trading the C-D wave.
I term this move the SAMM, where I see a rapid move from the C point of a shark towards the D point.
Previously traded this move on gold and cadchf and both worked out pretty well. (Chinese region TV idea)
You can also consider waiting for the bearish shark to complete before going short.
