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Wolfe Waves - Get in the Zone

  • #2,101
  • Nov 30, 2017 12:05am Nov 30, 2017 12:05am
Quoting Knurrem
{quote} Unfortunately this is not a WW. I would suggest you read post one of this thread as it explains everything necessary you need to know about Wolfe Waves.
why not just point out what you see as flaws instead of telling him to read the first post? Aren't we here to help each other understand these things? Far as I can tell that IS in fact a wolfe wave. Not perfect, but a wolfe wave none-the-less, and that's based on my own knowledge obtained from Bill Wolfe's writings. granted, a continuation pattern rather then reversal, but looks good to me and I have damn near the same pattern on my own usdjpy chart that I am trading sells on lower time frame signals now.
  • #2,102
  • Edited 3:20am Nov 30, 2017 3:09am | Edited 3:20am
Quoting bladerogers
{quote} why not just point out what you see as flaws instead of telling him to read the first post? Aren't we here to help each other understand these things? Far as I can tell that IS in fact a wolfe wave. Not perfect, but a wolfe wave none-the-less, and that's based on my own knowledge obtained from Bill Wolfe's writings. granted, a continuation pattern rather then reversal, but looks good to me and I have damn near the same pattern on my own usdjpy chart that I am trading sells on lower time frame signals now.
It's not a valid WW as points A and B are both below point X. Point X has to be between A and B pricewise.

I referred to post #1 because I consider it necessary for a beginner to understand what is elaborated there fully. Also I thought helping him most by suggesting to read post#1.
  • #2,103
  • Nov 30, 2017 7:56am Nov 30, 2017 7:56am
Quoting Knurrem
{quote} It's not a valid WW as points A and B are both below point X. Point X has to be between A and B pricewise. I referred to post #1 because I consider it necessary for a beginner to understand what is elaborated there fully. Also I thought helping him most by suggesting to read post#1.
I agree, but I do suspect most that visit this thread find value because they have read at least the first post. Thanks for elaborating knurrem. Interesting, that is not something that is made clear in the wolfe wave pdf. thanks!
  • #2,104
  • Nov 30, 2017 9:32am Nov 30, 2017 9:32am
Quoting bladerogers
{quote} Interesting, that is not something that is made clear in the wolfe wave pdf. thanks!
If you refer to the Wolfe Wave Book linked in the first post I have to contradict as it's in the rule set on pages 6 and 7.

[image]Screenshot2.png;2582941[/image]

But as post 1 explains the rules and everything else to take in consideration when trading Wolfe Waves much easier and more concise in my opinion, I'd prefer to go by post 1 rather than by the book linked there. Especially for beginners. But that's just my two cents. I hope that was helpful anyway...
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  • #2,105
  • Nov 30, 2017 9:35am Nov 30, 2017 9:35am
The bearish WW in Gold hit the lower target line too. It's really interesting to observe how price got rejected when it hit the first target line, bounced back only to get down to the second target line thereafter, where it got rejected again.

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  • #2,106
  • Nov 30, 2017 9:44am Nov 30, 2017 9:44am
EURUSD daily.

Another really nice WW that already hit it's target. This wave could have given neat gains, unfortunately I haven't seen it at the right time.

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  • #2,107
  • Nov 30, 2017 10:19am Nov 30, 2017 10:19am
EURCHF H1

Possible WW forming.

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  • #2,108
  • Nov 30, 2017 10:56am Nov 30, 2017 10:56am
FTSE100 H1

Potential WW forming, still plenty of time to get in. No need to hurry in my opinion as it surely will need time to bottom.

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  • #2,109
  • Nov 30, 2017 1:17pm Nov 30, 2017 1:17pm
Building a short position here up to 1.54

EUR/CAD 4H BEARISH CWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #2,110
  • Nov 30, 2017 2:46pm Nov 30, 2017 2:46pm
Quoting Expo33
Building a short position here up to 1.54 EUR/CAD 4H BEARISH CWW {image}
There are actually two bearish WW. Take a look at it, what do you think? I think this could be a great trade.
I just took one position and set a sell order to 1.54680.

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  • #2,111
  • Nov 30, 2017 2:52pm Nov 30, 2017 2:52pm
Quoting Knurrem
{quote} There are actually two bearish WW. Take a look at it, what do you think? I think this could be a great trade. I just took one position and set a sell order to 1.54680. {image}
Perfect setup.

I shorting this at 1.5458

Bearish WW with fibo confirm pullback.
  • #2,112
  • Nov 30, 2017 3:10pm Nov 30, 2017 3:10pm
Quoting Knurrem
{quote} If you refer to the Wolfe Wave Book linked in the first post I have to contradict as it's in the rule set on pages 6 and 7. Screenshot2.png;2582941 But as post 1 explains the rules and everything else to take in consideration when trading Wolfe Waves much easier and more concise in my opinion, I'd prefer to go by post 1 rather than by the book linked there. Especially for beginners. But that's just my two cents. I hope that was helpful anyway... {image}
Absolutely it was helpful Knurrem, thank you for your feedback/input. It's very easy to forget/overlook some of these things, so I for one very much appreciate when flaws are explained. Right now I am seeing wolfe waves (or at least I think I am) forming across a number of EUR and also AUD and NZD pairs on higher time frames (daily/weekly). I'll post some charts and ask for feedback/opinions on them. Thanks!
  • #2,113
  • Nov 30, 2017 3:25pm Nov 30, 2017 3:25pm
Thoughts/input?
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  • #2,114
  • Nov 30, 2017 3:49pm Nov 30, 2017 3:49pm
Quoting bladerogers
Thoughts/input? {image}
Well, I won't say it's impossible that this will have success as in FX everything is possible at any time. But first of all I don't really like the position of point X as it represents no significant high/low. True there is divergence perceivable in the AO too, but all in all I don't like the symmetry of this wave. My best guess is, that price will likely reach the red area where the 50% fibo level sits around. I personally wouldn't trade this wave and I wouldn't recommend it either. The probability of success just isn't high enough for me.

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  • #2,115
  • Nov 30, 2017 4:22pm Nov 30, 2017 4:22pm
Awesome, thanks knurrem. I wouldn't take the trade until I see some confirmation via RSI on the 4 hour time frame, and lower lows and highs on the 15-30 minute. I'm keeping an eye on these pairs, and also EUR pairs. It looks to me like EUR might be taking a big dump soon across a number of pairs (EUR/AUD is another)
  • #2,116
  • Nov 30, 2017 9:44pm Nov 30, 2017 9:44pm
Quoting bladerogers
Thoughts/input? {image}
Agree with Knurrem about point X not being ideal.

However, there is actually a WW on the 4H (not that beautiful) that has just reached AB=CD to the pip! Not shown on the chart but it also coincides with the 161FIB ext. Pivot resistance, especially the monthly R1 may be significant. Could be a nice risk reward here. Maybe a very small position with 100 pip SL trying for 300-500 pips. Set and forget. GBP has a lot of momentum but may be a bit overcooked.

GBP/NZD 4H BEARISH CWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #2,117
  • Dec 1, 2017 5:00am Dec 1, 2017 5:00am
Quoting Expo33
{quote} Agree with Knurrem about point X not being ideal. However, there is actually a WW on the 4H (not that beautiful) that has just reached AB=CD to the pip! Not shown on the chart but it also coincides with the 161FIB ext. Pivot resistance, especially the monthly R1 may be significant. Could be a nice risk reward here. Maybe a very small position with 100 pip SL trying for 300-500 pips. Set and forget. GBP has a lot of momentum but may be a bit overcooked. GBP/NZD 4H BEARISH CWW {image}
Already dropped 150 pips. A dream scenario. Move SL to BE and enjoy the potential ride down the mountain.
Pride always comes before destruction.... -Proverbs 16:18
  • #2,118
  • Dec 1, 2017 8:11am Dec 1, 2017 8:11am
Quoting Expo33
{quote} Already dropped 150 pips. A dream scenario. Move SL to BE and enjoy the potential ride down the mountain.
so is that eurcad
  • #2,119
  • Dec 1, 2017 9:17am Dec 1, 2017 9:17am
Quoting Expo33
{quote} Already dropped 150 pips. A dream scenario. Move SL to BE and enjoy the potential ride down the mountain.
That worked out really well. As I had only one position I already cashed out after that massive hourly candle. Thx Kurt for sharing that excellent WW.
  • #2,120
  • Dec 1, 2017 11:52am Dec 1, 2017 11:52am
Possible WW DAX30 H4

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