USDJPY Looks like Fib is not going to hold -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:
1. We have hit a Fib Area on retracement of an uptrend.
2. It looks like it has a very hard time to move up away from the Fib Area. Volume with small Pip move and a High SI of 14.2 (Look Left: There is no such a High Speed Index on the up waves, eventhough it's only three bars)
Most problably it will break the Fib down (Short trade) unless all this volume were buyers but I dought it. If you want to be on the safe side wait for it to break 61.8 Fib and then enter.
to be continued...
This Forecast failed - I have never seen such an up move - it looks like wood saw (bar up bar down and price keep moving up) . This Covid -19 produces strange effetcs.
