GBPJPY - This is why started Retracing to Fib - TRADING WITH WEIS WAVE WITH SPEED INDEX

Setup 1HR chart 

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

This is why GBPJPY started retracing to Fib:

1. We have reached Previous Support that became Resistance on 4HR chart

2. High Speed Index of 54.9 approaching Resistance for a second time (double top) - No such high speed index on the up waves on the entire up trend.

Next: Most problably on Monday we will hit the Fib Area which is also previous Resistance Level on 1HR chart and start going up again. This forecast needs to be examined in detail looking at our waves, Speed Index and individual volume bars when we hit the Fib Area.

Monday 9/9/2019 17:13

Forecasted correctly by reading our waves with speed index 120 pips up move. If you are able to read the waves properly you will have a high success rate and that's a FACT.

We have hit the Fib twice and on the second time price had a difficulty.

3. High Speed Index on the down move of 42.3 on the second Fib touch (nothing like that on all the down waves from top to Fib)

4. High volume bar (more buying).