AUDJPY - Wyckoff Up-Thrust
Updated
Every chart has a story and this is the recent story of this one.
The indicator did not produce a WU signal but if you know how to read your waves together with Speed Index this is a Wyckoff Up-Thrust.
The Story:
* After the Longs from the exit form the range we have hit the Fib with more longs and this is where I mentioned to get profits out of some of them.
* Then we have a Fib 61.8 overshoot with long signals but price went nowhere
* Finally Speed Index alerts us that something is cooking. An Abnormal Speed index of 66.6 nothing like that on all the up moves= HTMU (Hard to Move Up)= Sellers and down we go!!!
Enjoy!
Learn to read and trade any market!
The indicator did not produce a WU signal but if you know how to read your waves together with Speed Index this is a Wyckoff Up-Thrust.
The Story:
* After the Longs from the exit form the range we have hit the Fib with more longs and this is where I mentioned to get profits out of some of them.
* Then we have a Fib 61.8 overshoot with long signals but price went nowhere
* Finally Speed Index alerts us that something is cooking. An Abnormal Speed index of 66.6 nothing like that on all the up moves= HTMU (Hard to Move Up)= Sellers and down we go!!!
Enjoy!
Learn to read and trade any market!
Trade closed: stop reached
Stop Reached.Wyckoff Up-Thrust logic did not work. That high up volume wave at the bottom had momentum. Next resistance level is coming up on the left, to re-evaluate waves at the top!
Contact:info@tradethevolumeswaves.com
Site: tradethevolumewaves.com
Site: tradethevolumewaves.com
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