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Wyckoff Up-thrust: How to identify using Speed Index and Plutus, 344 pips

This is a GBPUSD trade, a classic Wyckoff Up-thrust happening on an excellent location.


First Alert comes with an Abnormal Speed Index on the Daily Chart. Do you see such a high Speed Index, 63.4,on all the up waves of the up-trend? The answer is "No" and this called Change in Behavior!! Furthermore the indicator has classified this wave with an S next to the Speed Index notifying us that this is a slow wave, which means that smart money is absorbing all the buy orders with sell orders.


The Entry always come on a smaller timeframe where we can read the details, in this case H4.

False break on a resistance level at that 11.9 Speed Index and the next wave up is a Hard to Move up wave with a 42.4 Speed Index and finally Plutus confirming the entry with a WU 25.9 signal.


Simple as that 344 pips so far.



 
 
 

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