HERE'S A NICE TRADE SETUP IN GBPJPY DAILY. WE GOT COMPRESSION INTO MASSIVE SYMM TRN ON DAILY CHART, WHICH IS HUGE. POTENTIAL UPSIDE BREAKOUT TARGET FOR BULLS IS 143.00.
IS IT POSSIBLE THAT WE GET A DOWNSIDE BREAK OUT? YES. BUT. THE PRIOR TREND WAS STRONG UPTREND. THEREFORE I FAVOR UPSIDE BREAKOUT AND BULLS TAKE OVER AND THEN WE HIT 143.00.
NICE 300 POINTS UPSIDE ON THIS TRADE SETUP. IF YOU PLAY IT, EITHER SCALE IN TOMORROW (BUYING ANY DIPS) AND/OR SCALE IN VIA BUY STOPS ABOVE TRN TIP TO CAPTURE MOST OF THE UPSIDE IN THIS MOVE.
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other angle. same outcome.
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if the second option is valid, then we might be stuck in this TRN tip for next 1-2 weeks.