USDCAD PLUTUS PATTERN 140 PIPS -TRADING WITH WEIS WAVE WITH SPEED INDEX

Setup : 1Hour Chart Indicators: Weis Pip Wave, Weis Wave with Alert (+Speed Index) and No Demand No Supply ( https://www.mql5.com/en/users/takisd/seller)

Our Story: Classic Plutus Pattern

Now this  was a tricky one: we are ranging and by looking at the last two top High SIs (7.0 and 9.0) plus the fact that all the pin bars are at the top that this will be a classic short.

BUT:

We never broke support and..

LOOK at the last formation before breaking Resistance

1. High SI of 9.0 and then

2. Fast wave down  with Low SI of 2.4 that never broke Support -Therefore classic Plutus Pattern -

 The last two top  High SIs (7.0 and 9.0) was excessive buying and that's why it exploded to140 pips after the break.

This the Magic, you just have  to be patient and read the waves with SI properly.