H4 GBPJPY market shift homework.
Updated
1. Market is in a uptrend.
2. Market consolidates. Makes a something like a double top. Note that the second top did not break above the 1st top. This can be seen as a reaction to a supply zone.
3. A change of character can be seen here, possibly signifying a shift in trend.
4. Prices rose up to our H4 supply zone and refined H1 supply. This can be refined into smaller time frames. Wait for a similar shift in LTF.
5. LTF sell limit from LTF Supply.
2. Market consolidates. Makes a something like a double top. Note that the second top did not break above the 1st top. This can be seen as a reaction to a supply zone.
3. A change of character can be seen here, possibly signifying a shift in trend.
4. Prices rose up to our H4 supply zone and refined H1 supply. This can be refined into smaller time frames. Wait for a similar shift in LTF.
5. LTF sell limit from LTF Supply.
Note
Note that in point 3. we can already see a ChoCh as the first sign of a shift in market structure. In this trade we are taking the 2nd shift.Note
Taking the 1st shift into consideration, many LTF trades could be taken.
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