Wolfe Waves - Get in the Zone

Quoting acsandrei

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{quote} Do you mean a pendenting order in the direction of the wolfe?

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Quoting Expo33

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{quote} Yes, a scale in zone. For example on the GBP/USD I'd have a zone of about 30 pips where I'd have 10 tiny long positions waiting that encompass price as it heads down to the AB=CD completion level and maybe even a bit farther. I use a script that makes it easy to set up. So it might look something like this. Once its set you can easily drag and drop the SLs and TPs if you want to change them {image}

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Quoting Expo33

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{quote} For the EUR/CAD Daily you posted I'm not a big fan of X just being a random location. I see traders just picking X anywhere just to fit in it for the Wolfe wave. For me point X should be distinct, either a swing Hi/Lo point or at least a minor localized Hi/Lo If you look closely you can see that there actually was a valid classic bullish Wolfe wave that already has played out. Price rejected for a week straight at the 200FIB extension which was only 30 pips from perfect AB=CD completion. Not bad considering the impulse waves were over 500...

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Quoting simba2000

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{quote} Mr. Expro33, Great notes and guidance Is there is any other conditions we have to consider when approving point x ?

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Quoting pet3250

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{image} Anyone else watching AJ 1 hour? trying to get a sense of whether this one will play out or not.

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Quoting pet3250

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Expo, are you expecting the D leg to complete? and if not is it still a valid WW and therefore you would still expect it to cross the take profit line? thanks in advance. Peter.

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Quoting Expo33

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{quote} You're welcome Simba. I think a lot of it is a personal choice for each trader but as I said the point needs to be at least somewhat distinct form the localized price action. Maybe a fractal, minor or major swing point. Ideally, it's nice when X is a point that is already a along an impulse wave in a trend that is established. I've had some experienced Elliot wave traders say that the WW is potentially the end point of a larger Elliot wave structure and that the WW may may be the reversal point for that trend.

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Quoting Expo33

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{quote} The white number is how many pips price has moved from the last ZIGZAG High/Low

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Quoting simba2000

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{quote} Mr. Expo33 We have to think how to benefit more from the numbers (pips/time) written over the zigzag Do you have an idea ? Is there is any thread discussing this idea ? Thank you in advance.

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Quoting acsandrei

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Bearish Wolfe on EY, will it have the force to test S38?..waiting for reversal {image}

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Quoting Knurrem

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AUDCHF H1 How about this setup? There is also divergence in the Awesome Indicator. {image}

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Quoting Expo33

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{quote} I think the indicator that "parviz" developed covers every aspect of the WW structure and is completely sufficient. Now, the most important part of the puzzle is to filter out the bad trades using a personalized system of confluence along with keeping an eye on fundamentals/sentiment/news.

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