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Wolfe Waves - Get in the Zone

  • #1,821
  • Edited Aug 6, 2017 2:17am Aug 5, 2017 9:27pm | Edited Aug 6, 2017 2:17am
Still tinkering with Renko and stumbled upon a new Renko generator developed by a generous and gifted member named "tgdrela1"

This indicator is excellent in functionality and versatility. Perfect for me in testing out new ideas.

Thread, indicators, templates, and you tube video instructions here: https://www.forexfactory.com/showthread.php?t=684131

Worth checking out if you are interested in Renko trading

Here's a couple of WWs back to back with the 200FIB extension reigning supreme!

Also highlights the fact that WWs don't necessarily need to reach the full AB=CD completion price. Both WWs reverse prior to AB=CD but price in both cases has clearly broken the XB trend line and entered fully into the sweet zone.

AUD/USD BEARISH AND BULLISH CWWs - 3 PIP RENKO BRICKS
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Pride always comes before destruction.... -Proverbs 16:18
  • #1,822
  • Aug 6, 2017 1:03am Aug 6, 2017 1:03am
Thank you for your honesty. All the best.
  • #1,823
  • Aug 6, 2017 2:08am Aug 6, 2017 2:08am
Price hits the profit target line of the first Wolfe wave which just happens to be the endpoint of a second Wolfe wave.

Coincidence? Or is it the harmonic nature of the market?

Check it out

EUR/USD BULLISH CWW FOLLOWED BY A BEARISH CWW - 3 PIP RENKO BRICKS
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Pride always comes before destruction.... -Proverbs 16:18
  • #1,824
  • Edited 7:46pm Aug 6, 2017 4:46pm | Edited 7:46pm
The simplicity and beauty of Renko WWs. Smaller wave inside a bigger wave. Both ending within 2 pips from each other

GBP/CAD BULLISH CWW - 2 PIP RENKO BRICKS
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Pride always comes before destruction.... -Proverbs 16:18
  • #1,825
  • Aug 6, 2017 7:56pm Aug 6, 2017 7:56pm
Short off retest of completion level

AUD/JPY BEARISH CWW - 3 PIP RENKO BRICK
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Pride always comes before destruction.... -Proverbs 16:18
  • #1,826
  • Aug 7, 2017 2:45am Aug 7, 2017 2:45am
Quoting Expo33
Short off retest of completion level AUD/JPY BEARISH CWW - 3 PIP RENKO BRICK {image}
20 pips green, book it for half the position, let the rest run with a 20 pip trailing stop
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Pride always comes before destruction.... -Proverbs 16:18
  • #1,827
  • Aug 7, 2017 3:38am Aug 7, 2017 3:38am
go go go
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No one wants to be defeated~
  • #1,828
  • Aug 7, 2017 3:41am Aug 7, 2017 3:41am
not too bad...hum?
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No one wants to be defeated~
  • #1,829
  • Aug 8, 2017 2:37am Aug 8, 2017 2:37am
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No one wants to be defeated~
  • #1,830
  • Aug 8, 2017 2:50am Aug 8, 2017 2:50am
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No one wants to be defeated~
  • #1,831
  • Aug 9, 2017 3:03am Aug 9, 2017 3:03am
oh no................................................
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No one wants to be defeated~
  • #1,832
  • Aug 9, 2017 4:23am Aug 9, 2017 4:23am
no surrender! only vengeance!
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No one wants to be defeated~
  • #1,833
  • Aug 9, 2017 8:34am Aug 9, 2017 8:34am
Two WWs on the DAILY completing at the same level. That's an edge. Reversal took place only 20 pips from AB=CD

GBP/USD DAILY CWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #1,834
  • Aug 9, 2017 12:27pm Aug 9, 2017 12:27pm
Quoting Expo33
Two WWs on the DAILY completing at the same level. That's an edge. Reversal took place only 20 pips from AB=CD GBP/USD DAILY CWW {image}
Hi Expo33:
Is the second WW manually drawn?
I have not read all the posts yet but can one trade from the C point ?
Many thanks.

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  • #1,835
  • Aug 9, 2017 6:19pm Aug 9, 2017 6:19pm
Quoting pax
{quote} Hi Expo33: Is the second WW manually drawn? I have not read all the posts yet but can one trade from the C point ? Many thanks. {image}
I think this question has come up once before.

For me, the answer would be no. WW theory is based on completed waves and the idea that price has become harmonically out of balance.

Yes, the second wave was drawn manually just to make it easier to see
Pride always comes before destruction.... -Proverbs 16:18
  • #1,836
  • Aug 10, 2017 2:04am Aug 10, 2017 2:04am
I enjoy reading this CWW's "art of painting" thread, so colourful. Keep it up guys!
  • #1,837
  • Aug 10, 2017 11:38am Aug 10, 2017 11:38am
Hi, Expo33:
In posts #1,267 & #1,835, you mentioned 'manually drawing the waves'. I was wondering if you use any special tool to do that and put the'12345' directly on your mt4 charts after you've detected the waves and removed the indicator? Thx for your help!
Shuo
  • #1,838
  • Aug 10, 2017 6:21pm Aug 10, 2017 6:21pm
Quoting zhangshuo
Hi, Expo33: In posts #1,267 & #1,835, you mentioned 'manually drawing the waves'. I was wondering if you use any special tool to do that and put the'12345' directly on your mt4 charts after you've detected the waves and removed the indicator? Thx for your help! Shuo
Hi Shuo.

Sometimes, after the WW indicator has detected a wave, I will draw two triangles using the MT4 tringle function and then delete the indicator. The WW indi uses a fair amount of CPU and slows down my computer if I have too many charts up at once with the indicator.

Other times I just just the WW manually using the MT4 trend line function, text function etc.

Cheers
Pride always comes before destruction.... -Proverbs 16:18
  • #1,839
  • Aug 15, 2017 9:06pm Aug 15, 2017 9:06pm
catch u!
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No one wants to be defeated~
  • #1,840
  • Aug 16, 2017 10:03pm Aug 16, 2017 10:03pm
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No one wants to be defeated~
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