I always preach "Learn to read the story", the indicator is a tool that will help up us read the story, is not a buy or sell command.
So this is the story:
We have hit a 1.Fib coming from the Daily Chart which is very important.
As we approach 61.8 Fib, 2.Effort vs. Result which means Hard to Move Down which means Buyers. How do I know that this wave was Hard to Move Down and not a Push Down? The answer is in point 3.
The reaction to that hit was a nice high up volume wave with linear pip move which means not resistance from sellers.
Then it created a messy range. Why this range was created ? Because it was a Fib, classic reaction and to buy some more. If you draw the opposite Fib you will notice that this range is in a Fib area (not drawn on chart) . That 4. Effort vs Result down wave (Hard to move Down), it was obvious buyers.
Finally the Plutus Reversal Long - 5.PRL provides the confirmation of the previous story in the correct direction.
Last but not least, the above story my friends is a free but very valuable lesson that not many people are willing to share (of course before sharing you need to be able to read it and that's another point, not many people are able to read it in the first place).
I just hope all this work that I publish is worthwhile for some people!
Enjoy! This is the magic of Speed Index and Wave Reading.