EURUSD This is why it Bounced On Daily Fib -TRADING WITH WEIS WAVE WITH SPEED INDEX

EURUSD This is why it Bounced On Daily Fib -TRADING WITH WEIS WAVE WITH SPEED INDEX

26 January 2020, 09:44
Panagiotis Diamantopoulos
0
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EURUSD This is why it Bounced On Daily Fib

Setup Daily Chart

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


Let's Read our History - therefore "Look Left":

1. We were at Weekly Resistance

2. Nice false Break with a fast up wave. Small Up Volume but High Pip Move and Low SI of 25.3 - imediate reaction fast down wave with SI 23.0

3. Retracement to Fib Area

4. And the final clue to go Short. Retracement to Fib has been very hard. Lots of Volume compared to the respectives Pip Move and a very nice High SI of 64.3

The result 135 pips from Fib to current Price or 55 pips from Support Level to current Price (for the conservative ones)

Watch out this Week because we are approaching another Daily/Weekly Support Level.

Enjoy!

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