Simple story:
First of all this is classic entry as TTVW says - Exit from range with PRL
The rest of the story
Green waves larger than red waves
Speed Index on the high side at the pullback = Hard to move done (Effort vs Result)
No funny stuff at the top yet
Therefore we should be heading for the resistance level approximately 60 pips
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
After hitting Fib Area 61.8 the Short signals from Plutus started PRS and PS.
The largest down wave after a while.
The large down move wave at regular Speed Index 8.8 which means market agrees with the move.
More pips to go!
Every chart has a story to tell, this the story of this one. This video explains how to read the chart using volume waves, pvr, speed index and plutus signal
All the charts say a story, you just have to be able to read it!
The Chart Story:
Progressive Volume Rate increasing as we approach Support
Plutus also signals PL signal = Long
High Volume waves after a while
