GBPJPY short - Supply Demand - h4 (Why we went up?)

Hello Traders!

Nice moves on GJ. Price went crazy up. Cheers for all who took advantage of the long trades.

Why we went up on GJ?
Let's have a look at the chart. Price was between two trend lines and price broke out. I predicted that the price will go up. One of my main confirmation for that was the falling DXY. Also if we got a look at the market structure we did not found a confirmation in order to short GJ. Also price did not react on the Supply Zones. It went simply through.

What now?
Price is right now at the daily Supply Zone. I am waiting for a nice Price Action Confirmation to sell. We could see the price going down to the Support Level. This could be our first Take Profit Level. Then retest at the Supply Zone and again a drop. Final TP would be the h4 Demand Zone.

That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions.

Thank you and we will see next time
- Darius.