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Wolfe Waves - Get in the Zone

  • #2,141
  • Dec 27, 2017 6:09am Dec 27, 2017 6:09am
Quoting jonirrenicus
Here is a very good indi for filter use... if you go long don't pick up the weakest currency. short vise versa... you see i made a mistake yesterday when the STR for USD was >6 and AUD was <0.5 {file}
Hello Joni, this indicator is not showing on my chart.
  • #2,142
  • Dec 27, 2017 7:06am Dec 27, 2017 7:06am
Looking to hold this for the long term. Waited to enter on this one even though it was a bit over extended. Got a decent entry zone now.

AUD/JPY 4H BEARISH CWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #2,143
  • Dec 27, 2017 7:26am Dec 27, 2017 7:26am
Quoting Expo33
Wolfe wave trading requires patience and conviction. Forex 101 says don't try to pick tops and bottoms. In essence, that's exactly what we are doing, at least on a localized basis. We aren't trying to predict some major shift in sentiment. We are only trying to capitalize on a temporary/localized market imbalance. Example here. Why try and step in front of a speeding train. Well, for me, because the risk/reward is much more attractive. This is an aggressive entry. Many traders would rather wait for price action confirmation before entering, and...
Stopped out at BE, re-entered 134.25 area. Small TFs. like to move SLs to BE fast if the initial bounce occurs.
Pride always comes before destruction.... -Proverbs 16:18
  • #2,144
  • Dec 27, 2017 12:39pm Dec 27, 2017 12:39pm
AUD/CHF 4H BEARISH
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  • #2,145
  • Dec 27, 2017 1:34pm Dec 27, 2017 1:34pm
Quoting alihay
AUD/CHF 4H BEARISH {image}
Nice symmetry!
Pride always comes before destruction.... -Proverbs 16:18
  • #2,146
  • Dec 28, 2017 1:16am Dec 28, 2017 1:16am
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  • #2,147
  • Dec 28, 2017 2:02am Dec 28, 2017 2:02am
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  • #2,148
  • Dec 28, 2017 2:22am Dec 28, 2017 2:22am
Quoting Expo33
{quote} Stopped out at BE, re-entered 134.25 area. Small TFs. like to move SLs to BE fast if the initial bounce occurs.
Made a few pips on the re-entry but stopped out at BE on remaining positions. Moving on to the next opportunity.
Pride always comes before destruction.... -Proverbs 16:18
  • #2,149
  • Dec 28, 2017 2:24am Dec 28, 2017 2:24am
Been waiting patiently on this one for a while. Just pulled the trigger!

It can be seen on the 4H but I am using Renko for this chart

AUD/USD BEARISH CWW - RENKO 7 PIP BRICKS
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Here's the 4H chart squeezed so you can see the previous S/R with the 78.6 "line in the sand" Fibo. Am hoping for 200 pips and am willing to hold for several weeks if necessary.
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Pride always comes before destruction.... -Proverbs 16:18
  • #2,150
  • Dec 28, 2017 2:39am Dec 28, 2017 2:39am
Scaled in and waiting.

USD/CAD BULLISH CWW - RENKO 10 PIP BRICKS
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Pride always comes before destruction.... -Proverbs 16:18
  • #2,151
  • Dec 28, 2017 12:37pm Dec 28, 2017 12:37pm
Quoting Expo33
Scaled in and waiting. USD/CAD BULLISH CWW - RENKO 10 PIP BRICKS {image}
USD/CAD longs are being filled now.

I rarely trade oil as it's such a manipulated market but it looks like WTI CRUDE may be exhausted. Daily divergence and many times the third divergent "hump" is better than the second "hump". Hopefully it will sell off heading into the new year. That would really help the USD/CAD long trade.

WTI CRUDE DAILY BEARISH CWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #2,152
  • Dec 28, 2017 12:47pm Dec 28, 2017 12:47pm
EURUSD H1 bearisch CWW

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  • #2,153
  • Dec 28, 2017 12:51pm Dec 28, 2017 12:51pm
Quoting Knurrem
EURUSD H1 bearisch CWW {image}
Hey mate I'm just curious where you get the fibo levels after the 161? I've never seen those levels used anywhere.
Pride always comes before destruction.... -Proverbs 16:18
  • #2,154
  • Dec 28, 2017 3:15pm Dec 28, 2017 3:15pm
Quoting Expo33
{quote} Hey mate I'm just curious where you get the fibo levels after the 161? I've never seen those levels used anywhere.
Well, I was searching for fixed levels for my entries and SL which I could use for steeper WWs too. Levels 113, 127.2 and 141.4 I got from this thread, which means from you.

Then I just thought I just add 100 to each of em and got levels 213, 227.2 and 241.4.
As for the levels in between I already got the 161.8 level, which is commonly used.
Then I went like this:
161.8 - 141.4 = 20.4
213 - 20.4 = 192.6

Then I finally added the 178.6 level cause it's kinda in the middle between 161.8 and 192.6 and because the 78.6 level is also a quite common fibo level, to which I just added 100.

I guess it's kinda odd, but I'm using those levels for a while now and it works quite well for me.
  • #2,155
  • Dec 28, 2017 4:20pm Dec 28, 2017 4:20pm
Quoting Knurrem
{quote} Well, I was searching for fixed levels for my entries and SL which I could use for steeper WWs too. Levels 113, 127.2 and 141.4 I got from this thread, which means from you. Then I just thought I just add 100 to each of em and got levels 213, 227.2 and 241.4. As for the levels in between I already got the 161.8 level, which is commonly used. Then I went like this: 161.8 - 141.4 = 20.4 213 - 20.4 = 192.6 Then I finally added the 178.6 level cause it's kinda in the middle between 161.8 and 192.6 and because the 78.6 level is also a...
As long as it works that's good but they really have nothing to with the Fibonacci sequence and/or how the levels are derived. I was just curious because I never noticed them before until now.
Pride always comes before destruction.... -Proverbs 16:18
  • #2,156
  • Dec 28, 2017 4:59pm Dec 28, 2017 4:59pm
Quoting Expo33
{quote} As long as it works that's good but they really have nothing to with the Fibonacci sequence and/or how the levels are derived. I was just curious because I never noticed them before until now.
Yeah, not really fibonacci canon, right? I just wanted some levels to use as something to hold on and it works for me more often as not.
Mabe I should call it the "Knurrem sequence".
  • #2,157
  • Dec 29, 2017 6:21am Dec 29, 2017 6:21am
Quoting Knurrem
{quote} Yeah, not really fibonacci canon, right? I just wanted some levels to use as something to hold on and it works for me more often as not. Mabe I should call it the "Knurrem sequence".
I just looked up "Knurrem" on Wikipedia and it says, "famous Austrian forex trader that discovered a new mystical Fibonacci sequence"
Pride always comes before destruction.... -Proverbs 16:18
  • #2,158
  • Dec 29, 2017 6:52am Dec 29, 2017 6:52am
Quoting Expo33
{quote} I just looked up "Knurrem" on Wikipedia and it says, "famous Austrian forex trader that discovered a new mystical Fibonacci sequence"
Crazy how quickly Wikipedia gathers new things these days.

"Mystical", LOL that's the best part of it.
  • #2,159
  • Jan 2, 2018 5:12am Jan 2, 2018 5:12am
EURUSD daily - bearisch WW entered the sweet zone today

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  • #2,160
  • Jan 3, 2018 6:01am Jan 3, 2018 6:01am
Quoting Knurrem
EURUSD daily - bearisch WW entered the sweet zone today {image}
The EURUSD has reversed its direction inside the sweet zone for now. Let's see how far it will drop initially and if yesterdays high will hold as a resistance if tested again. If it holds and price really keeps descending after some up and down jigsawing I can imagine this pair to probably reach the 38% fibo maybe in March. At this point the target of the WW would coincide with the 38% fibo and weekly resistance. Let's see...

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