Reading the waves and Speed Index 1. After the High up Volume wave the reaction a Down volume wave with very high PVR 2. Fake Break with a very fast Speed Index of 2.5 3. Abnormal Speed Index of 15.4 with PRS signal = sellers Price dropped to Fib , next is to monitor reaction on Fib, bias is to continue Short
Reading the waves and Speed Index 1. Abnormal Speed Index of 14.8 = Sellers 2. Largest down wave with normal Speed Index = market agrees with move 3. 4. Large up wave but with high Speed Index 10.5 = Sellers 5. High Speed Index on the up move 8.0 = Sellers still forming but it looks like we are have a hard time to move up Therefore Short
This this chart is read using the volume waves and Speed Index 1. Large Down Wave but Speed Index 11.6 is very high compared to previous SI numbers which means that buyers are stopping the down trend. 2. Largest Up Wave after a long time with normal SI= more buyers 3. Very Large Up Wave with normal SI = more buyers Therefore Long is the trade!
Short trade based on previous High down volume waves and the fast fake move to Fib. Move stop to BE at support and target is set at next Fib area
PVR high at tops = sellers at tops and no significant buying at bottoms Fast wave up with 4.3 si - not justified probably fake Very high of 31.5 = too muck effort little result The forecast is to at least get to 50Fib which is 25 pips but can also get up to the blue line which is 70pips
Simple: Plutus signals got the swing from Resistance to the Fibonacci pullback. At Resistance Level : 5 Plutus signals of all shorts : Wyckoff Up-Thrust, PFBS (Plutus Fake Break Short), PS (Plutus Short) and PRS (Plutus Reversal Short) Start going down until ............... Fibonacci level, oohaou, how original !!!! This is were buyers come in again. How to...
Simple: PVR indicator increasing as price goes down = buyers - Why? because we approach ......... Fibonacci Area!!!! - You have been trained to trade at these levels , robots trade at this levels..
Coming from my previous idea: Even they are both up waves, Wave 1 is buying wave and Wave 2 is a selling wave. How do I know? Speed Index wave 1 normal speed index of 5.0 , wave 2 abnormal speed index 12.9 (Effort vs Result). The average speed Index is 7.5. I hope you are Short. That's exactly what David Weis book title "Trade is About to Happen" . Enjoy!
What's the difference between up wave 1 and up wave 2, apart from the fact that wave 2. is a bit larger? Looking forward for your comments Tip: look on the chart.
Story: Location is Excellent - Fib touch Bottom Speed Index a bit on the high side - I would preferred them to be higher to denote hard to move down moves. Immediate reaction after the last high down volume wave the largest up volume wave. The up waves are increasing What we need now is a retracement with small volume to go long. There is chance also to...
The story : In that huge up wave there were sellers! Why? Speed Index is telling us why. That was a hard time to move up wave 18.2 SI at the top is Effort vs Result (Wyckoff ) . The average Speed Index is 10.5 therefore the 18.2 is an Abnormal SI. If we break the beginning of the 18.2 wave downwards 1.92627, we are going down.
Buyers have stepped in. High Up Volumes green is everywhere. That last down wave with high volume has a high Speed Index 16.4, that's hard to move down Plutus signals also Long We should be reaching at least he Fib area
The Story : We have hit resistance level and started going down Hit the Fib Area and started going up again On the way down we see an very high Speed Index - price is having a hard time to come down Finally a PRL long signal shows the way for a long - already at 55 pips Now the question is if we are going to break that resistance level considering the background...
I have split it the chart into two sections with a vertical line. The left section, the bearish move and the right section, the bullish move. To be able to read the chart you need to focus on three things : 1. price location (as far as structure) 2. Volume Wave size and 3. Speed Index Let start from the left: Coming down with down volume waves greater then the...
This video explains the two indicators for TradingView Weis Wave with Speed Index - Signals and Weis Wave - Wave Types. Detail explanation of the parameters, proper setup, speed index and Plutus Signals.
This video explains the two indicators for TradingView Weis Wave with Speed Index - Signals and Weis Wave - Wave Types. Detail explanation of the parameters, proper setup, speed index and Plutus Signals.
Every chart has a story to tell and this is the story of this one: We have been trending up until we have hit resistance After the hit we start ranging around resistance area Last up move fails to stay above resistance Next up wave has an Abnormal Speed Index of 27.2 = HTMU (hard to move up) = sellers Plutus confirms the short with two signals PRS (Plutus...
Every chart has a story to say, this is the story of this one: We have been up-trending until we hit a Resistance level coming from the Daily chart. Some Sellers at the top with PRS signal Pullback to Fib and buyers are there again Now something is cooking at the top again because we have and Abnormal Speed Index of 56.8. The Bias is for Long but we are at...