Wolfe Waves - Get in the Zone

Approaching a top IMHO

S.

Hi All. I've used Wolfe waves on and off in the past but have recently been looking at turning points at the 1.113 & 1.272 Fib levels and at the other end .113 & .272 levels. I've found that very often price will turn and/or stop and reverse again at the level at the other end. I've put a Fib across the last Wolfe Wave on GBUSD M30 chart as an example:-


I ran the fib from WW point 2 to WW point 3. As you can see, point 5 showed very strong up volume just above fib .113 and reversed, again with very strong volume, at 1.272
I hope someone finds this useful. I've found that those fib levels are often at turning points.

Thanks.

Mike

Wolfe Waves Trading Strategy (Point & Figure) - Full Guide
What Are Wolfe Waves?
Wolfe Waves are 5-wave reversal patterns developed by Bill Wolfe and his son Brian. Later, Prashant Shah adapted them to Point & Figure (P&F) charts, making them cleaner and more reliable by filtering market noise.
Core Rules (Must Follow!)
Bullish Wolfe Wave Setup

 

1. 5-Swing Structure: O-X-O-X-O
2. Key Condition:
   1. Wave 2 (O-column) low must be < Wave 3 (X-column) high

   
   
   

3. Confirmation:
   1. New X-column forms after Wave 5
   2. Price breaks above Wave 3 high

   
   
   

4. Invalidation:
   1. Price drops below Wave 5 low

   
   
   
   

Bearish Wolfe Wave Setup

 

1. 5-Swing Structure: X-O-X-O-X
2. Key Condition:
   1. Wave 2 (X-column) high must be > Wave 3 (O-column) low

   
   
   

3. Confirmation:
   1. New O-column forms after Wave 5
   2. Price breaks below Wave 3 low

   
   
   

4. Invalidation:
   1. Price rises above Wave 5 high

   
   
   
   

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