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EURJPY Analysis

Our Story:

Let's start with the 4HR chart

  1. We have hit 50 Fib from Daily Chart

  2. This is where buying started - nice up wave with easy pip move

  3. Very Hard time to approach 1HR 61.8 Fib - a lot of volume small pip move

  4. High Speed Index of 50.7 at 61.8 Fib and up we go

  5. Weakness came in at resistance 6. - High Volume bar

Switching to 1HR chart Weakness is more visible but the down forming wave is having a High SI of 23.4 (but is still forming) - Is this their first push down or is it hard to move down and the strenth will continue. Who knows? Patience first forming wave must finish and then next waves will show their intentions.

Patience , wait for the Magic of Speed Index to show us the way?

1 comment

1 Comment

Brilliant ...thank you

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