GBPJPY short (Wyckoff, Supply Demand, Elliotwave, Marketphase)

Supply Demand and Support Resistance:

- Price is currently and the Resistance and also at the Supply Zone. I expect price to drop. This is actually a good entry with less SL.

Market Phase:
- Accumulation Phase: During a bull market, the accumulation phase begins when the informed investors usually enter their positions.
- Re-Accumulation Phase: As soon as the price leaves the accumulation phase and the new trend becomes visible, the phase of Re-Accumulation begins. Here, more and more investors are joining
the trend and ensuring higher prices
- Distribution Phase: We are currently in the Distribution Phase. At this stage, the market is often overbought, although the uninformed traders still believe that more bullish pressure is coming.
Afterwards the price will drop.

Wyckoff:
- This analysis clearly shows Wyckoff Theory.

1) Accumulation: The big players buy carefully
2) Mark Up: classic Up Trend
3) Distribution: Up Trend runs out of the steam and the market goes into a sideways trading range. The big players starts shorting the price.
4) Mark Down: classic Down Trend after distribution

Proof for Wyckoff: The market is ranging now for a while which clearly proofs the Distribution Phase on GBPJPY. Afterwards of a Distribution the Mark Down is following and the price will drop a lot.

Elliot Wave:
- Also Elliot Waves shows as that we are still in Wave 4. The Correction Wave. Therefore I expect after the drop price to go up a lot. That would be Wave 5.

CandleStick:
- Also reversal candle pattern on h1 timeframe

Confirmations:

1) Market Phase
2) Wyckoff
3) Supply and Demand
4) Support and Resistance
5) Candle Stick
6) Elliot Wave

Prediction: My targets are 136.00-136.50 for GBPJPY for shorts.

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