SGDJPY is telling us a multitude of stories on the daily time frame, which will hopefully converge with our weekly outlook.
(I will enter using the ABC approach)
Stop Loss: 78.920
Take Profit: 84.920 (Head and Shoulder)
We currently have an initiated head and shoulder pattern as follows:
I am waiting for a retracement to the neckline, or an extended retracement into the BC wave before seeing a further push to the upside:
I am especially convinced by the pattern as the head and shoulder pattern formed on a 50% Fibonacci retracement (BC Swing) of the previous (impulse) move:
Should the pattern work out, we will see it complete around the 61.8% Fibonacci retracement of the weekly moves AB swing leg. All of these factors converging makes this trade either incredibly probable, or just too good to be true.