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NZDJPY - Reading what Speed Index has written on the chart.

H4 chart shows the summary and H1 shows the details.


The story of H4:

  1. We have hit a Resistance level

  2. Abnormal Speed Index at the top 61.0 which means Hard to Move Up, which means smart money is absorbing all the buy orders with sell orders

  3. Next down wave with Speed Index 50.2 is a Push Down, more selling



The story of H1:

Easy staff

Speed 61.1 which means Hard to Move Up and PRS (short signal)

Fake fast move with a 7.7 speed Index price going down and on the next try to move up a Speed Index of 32.7 = more Hard to Move Up

The Result so far:

1st Target hit 49 pips



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