GBPUSD | 30M | Ellipse Supply Repetition SetupMarket structure continues to respect the same Ellipse Supply Repetition concept. After completing the rounded (ellipse) accumulation phase, price expanded into supply and faced immediate selling pressure, repeating the reaction seen in the previous cycle.
The current decline is approaching a key demand zone where I expect buyers to become active again. However, I'm not interested in catching the falling knife. My plan is to wait for a confirmed bullish candlestick pattern (Bullish Engulfing, Morning Star, Strong Rejection, etc.) before considering any long position.
Trade Plan:
• Ellipse Supply Repetition suggests the possibility of another bullish rotation.
• Price is entering a high-probability demand area.
• No confirmation = No trade.
• Bullish confirmation at demand will be the trigger for entry.
• Risk management remains the priority.
The market rewards patience. Let price prove that buyers are stepping in before committing capital.
