My new journey with Wolfe Waves...

I was intrigued by these site: http://www.wolfewave.com/ http://www.forexfactory.com/showthread.php?t=6132, to read some insight into Bill Wolfe's waves, known as Wolfe Waves.

Please google it to get all details, as this thread assumes you understand the concept of WW.

This thread is about open discussions on WW trading style. Please feel free to comment. Much appreciate experts opinions.

Does it really work in fx...this is my journal to decide to accept, or dump the idea of WW.

As a candlestick pattern trader, I found combination of candle reversal patterns leading to the WW patterns, an amazing way to identify wave 5 for a quick profit.

Point of entry is the extension of 1-3 points,
Target is the extension of 1-4 point. Max SL is set to 40pips.

As long as R:R ratio is greater then 1:1, trades are acceptable.

Attached is the EURUSD hourly chart at the end of this Friday...a great sell opportunity during NY sessions which I missed.

Let's see what next week will bring....

Hourly chart shows a great buy....went long at 1.0355, SL 1.0320, TP 1.0505

Stopped out: -35pips

Not a strong reversal candle on point 5.

Hi candletrader, are you still going on wuth wolfe waves? I'm just getting started and it would be great tomcompare notes. Let me know.

Hi, how are you timing your entries and setting your stops. I have been using Fibonacci ext of point 2 to 3 for this and its working well. I set different targets based on the levels as attached.

Talk about intermitant replies! (4 replies in 6 years).
I just got interested in Wolf Waves, and 2 came up last week on H4 charts. I'll post one here to show a perfect example.

I looked a bit into WW and I came to the conclusion, that the sharper the angle of the trendline between point 1,3,5 is the higher is the probability for a good setup.