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GBPAUD - This is called efficient chart reading and this is how is done!!!

Told you this morning that something is cooking.

The Story putting together all the pieces of the puzzle:

  • That 123.8 SI got my attention and then I started reading the chart and making annotations:

  • Price Location : at Resistance Level

  • At this Level High Progressive Volume Rate - look left same story 5 days back - which means Smart Money entering again (absorbing your buy orders

  • Effort vs Result = Hard Time to move to this Level

  • PS first weakness

  • High SI of 123.8 nothing like that on the entire chart on the up waves so something is cooking

  • Fake brake and then a PRS pattern and SHORT is the trade

...and as I always say this is the Magic of Weis Wave with Speed Index if you know how to use it. It is a very powerfull multi-tool to assist you reading the chart and identify where Market Makers are active.

DO NOT TRADE because an indicator or an EA says so- LEARN to READ the charts



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1 comentario

I personally handled this trade incorrectly, so it's of great value 'post mortem' to identify what I did wrong in my analysis. Great teaching!

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