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Waiting for Reversal Confirmation

by Snir A, March 15, 2021

GBP/JPY H4 Supply and Demand

by Snir Ahiel March 15, 2021

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GBP/JPY

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Short

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H4

Timeframe:

H4

Analysis Method:

Supply and Demand

Analysis:

As we can see on the H4 time frame, it seems the price start to developed a double top pattern, the pattern will be complete only if the price will breakout the support below, breaking out this support also confirm the price tends to reach the demand at the bottom, if the price will break the support below I’ll look for a new supply created by the price in order to sell there.

Trade Plan:

Waiting for breakout

Things To Watch For:

Waiting for breakout

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