AUDNZD - Is this a possible trend change coming up?
This the Story:
We have hit a major Support level from Daily
On the way to this level we had a Huge Down Wave , highest since "whenever" not visibible in chart but with a non linear pip move = all this could be Hard to move Down
Then we have a High Up Volume wave again with non linear pip move which could mean that this is a Push Up.
More High Volume Down Wave with non linear pip move = all this could be Hard to move Down but still forming
Abnormal SI, nothing like that on the down moves, but still forming.
So what do we do? The answer is: "Wait". Remember the Follow Strategy: "Let them do what they have to do and then Follow". The above story to confirm we have to break a level like the one marked as "Entry Long" ( a nice Plutus pattern would help too). Another scenario is to start ranging for a while, let's see!
!!!This is the Magic of Speed Index but don't be a magician read what the chart is telling you!!!
