( waiting for setup) NZDJPY topping out with big pattern



In the previous post on bull trap, I did not get a chance to trigger on this short. However
I will like to refer to the previous big picture that might indicate a huge topping pattern for this pair.
Note to myself : calling for a multi-year top is definitely not going to be easy; I am acknowledge that I am trading basically against the big trend ( consecutive up months) and subsequent action taken to trade this bias will require to trade the direction in chunks.

From tx plot, it shows a giant 1234 with monthly blue box. Price happened to be showing a Double Top, with a monthly bearish engulfing candle formed by the month of January, against December.
Does this signal more to come? That perhaps a move of 700-1500 pips might be coming in the coming year? Still, breaking this up in smaller chunks may be easier for my style.

week6 nzdjpy monthly 1234 tx bb 030214

On D1 , this will be the tradable plan. I am now waiting for a retracement to minimize my pip risk in the case where price closes above the resistance zone to invalidate short bias

week6 nzdjpy d1 waiting for retracement setup 030214


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