GBPJPY short UPDATE (Power of Supply and Demand)

Really nice movement on GJ. It simply follows the rule of Supply and Demand. I hope you could trade between the range. Sell at Supply and Buy at Demand. Simplicity. Just have passion with it. Sometimes it seems like it will break the Supply Zone but just keep calm, put your SL and follow your Risk-Management. Then you are on the profitable side. There were a lot of pips that you could grab with the last Supply and Demand Analysis.

I wanted to give a little Update on GJ. On the long therm I see GJ falling. It should be around 136.00. Afterwards I expect Wave 5 to start. We are currently on Wave 4 the correction Phase. I will send out a new Analysis with Elliot Wave Theory tomorrow.
So we need to keep an eye on the Demand Zone if it breaks. Therefore wait for the h1 and h4 candlesticks to close before adding any short positions.

Confirmation:

1) Supply
2) double top on h4

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