GBP/JPY Samurai master plan unveiled, short swing opportunity
What we have here on the daily chart:
- Those highs sitting right below the daily block
- The daily breaker which should now act as temporary support
So I'm thinking the Samurai will initiate a fake breakout of that inverse head and shoulders we're making, take those highs (loads of stops resting there by now), and proceed to sell off. Maybe aim for the red weekly level below in a few months.
This could be a few weeks worth of trade but 1000 pips sure sounds nice.
Of course, it's possible this theory gets invalidated, which would happen if we really get a breakout and then find support around the thick green level.
Trade carefully, the Samurai are watching.
- Those highs sitting right below the daily block
- The daily breaker which should now act as temporary support
So I'm thinking the Samurai will initiate a fake breakout of that inverse head and shoulders we're making, take those highs (loads of stops resting there by now), and proceed to sell off. Maybe aim for the red weekly level below in a few months.
This could be a few weeks worth of trade but 1000 pips sure sounds nice.
Of course, it's possible this theory gets invalidated, which would happen if we really get a breakout and then find support around the thick green level.
Trade carefully, the Samurai are watching.
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