GBPJPY - 10,000pip Setup ALMOST Ready!British Pound/Japanese YenFX:GBPJPYWicktatorFXIn our last setup for GBPJPY, we identified a massive diagonal pattern, with price completing wave 4 and preparing for a multi-year drop into wave 5. Since then, price has played out exactly as forecasted - we've seen a clean impulse lower for wave 1, followed by an ABC correction for wave 2, which is almost complete. The Correction: The correction is made out of 3 major waves = ABC. Wave C appears to be an ending diagonal, which is typically a reversal pattern consisting of 5 waves in the form of an ascending wedge. We expect to see one final move higher, reaching the 78.6 fibonacci, thus completing the 5 waves of the ending diagonal. Trade idea: - Watch for wave 5 of the diagonal to develop - Once we reach the fib, look for a trendline that we can use for entry - once entered, stops above the breakout highs - Targets: TP1: 192, TP2: 180, TP3: 175 - Final Target: Trail for extended move toward wave (3) lows (could be 10,000+ pips over long term) This sets the stage for the next major leg - wave 3 of 5 - which historically carries the most power and momentum. What do you guys think? Goodluck and as always, trade safe!