Trading with Weis Wave with Speed Index

Trading with Weis Wave with Speed Index

14 June 2019, 06:45
Trade The Volume Waves Single Member P.C.
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Analyzing EJ 1H - Why it went down.

1. First high volume down wave - the highest down wave of the last four days + a High Speed Index of 31.6

2. Yellow rectangle - ranging - with various Speed Index values - Do we get an idea of what is going to happen next ? No clue !!! Just wait for the move!

3. & 4  After we break down we retrace back to Fib and with a High Speed Index of 44.6 - Hard time to get to Fib

Therefore taking into consideration 1. 3. and 4. we know it's a short.

5. High speed index on the up move of 31.6 - hard time to go up

6. We have reached another Fib area so usually some retracement is expected

7. On retracement hard time to go up with a  High Speed Index 39.7 not able to break the 31.6 level so going back down and now at Fid Level again - Need to watch out for the reaction because the Speed Index forming is not small - 33.0.

EJ Short


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