If it does, 95% of repainting indicators are pieces of craps...
Sonic
- #42,342
- Oct 29, 2008 8:43am Oct 29, 2008 8:43am
- Joined Apr 2007 | Status: Trader | 2,303 Posts
This is what I get with the Wolfe Wave - suggests 1.4576?
But who knows?
Are you going to enter long now for that Target?
I am just kidding!
Wait first to see 1.2840 break for a possible 1.2970 target for today!
Longs below 1.2600 are the better strategy for awhile!
- #42,344
- Edited 9:05am Oct 29, 2008 8:49am | Edited 9:05am
- Joined May 2006 | Status: Still here. | 2,602 Posts
- #42,346
- Oct 29, 2008 8:55am Oct 29, 2008 8:55am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
which time frame to use for indicator 1
thanks
doblece
[quote=doblece;2312189]Some screen shots comparing the three indicators at hand:
1 and 2 (both found on above mentioned thread)
3 (posted by ToBe - is the same Akuma mentions in the Wolfe thread)
thanks
doblece[quote=doblece;2312189]Some screen shots comparing the three indicators at hand:
1 and 2 (both found on above mentioned thread)
3 (posted by ToBe - is the same Akuma mentions in the Wolfe thread)
- #42,349
- Edited 9:24am Oct 29, 2008 9:12am | Edited 9:24am
- Joined May 2006 | Status: Still here. | 2,602 Posts
which time frame to use for indicator 1
thanks
At the present moment, I only see the monthly as being "in rule", M5 bearish setup showing already went on target (and "timing" line waay off
); on the H4 setup I already noticed that the "timing" lines don't converge (though after examining several former setups I can see that this factor is the less accurate of them all) so maybe yes, the price could reach any point on that 1-4 line but I wouldn't take that as a guideline because I doesn't follow the rules completely, IMO.Maybe if I redraw myself the lines taking the following points (in H4):
1 = 1.38815 - 09.11 at 16:00 gmt+3 (fxpro Mt4)
2 = 1.48647 - 09.22 at 20:00
3 = 1.32579 - 10.10 at 20:00
4 = 1.37687 - 10.14 at 12:00
Lines 1-3 and 2-4 converge on 10.31 at about 20:00 giving an estimate price of 1.3705 (on the 1-4 line) which is also the zone where SMA200 is resting now (1.3740 presently)...
I see this more probable than 1.45xx anyway.
Thank you great explanation
The system works on any timeframe... but you won't have setups on every one of them, nor every setup seems to be accurate (that's why I posted the chart of what I would consider a fairly accurate and \"by the book\" setup, in June - H1)
At the present moment, I only see the monthly as being \"in rule\", M5 bearish setup showing already went on target (and \"timing\" line waay off
- #42,352
- Oct 29, 2008 9:25am Oct 29, 2008 9:25am
- Joined May 2006 | Status: Still here. | 2,602 Posts
Thank you great explanation
- #42,353
- Oct 29, 2008 9:26am Oct 29, 2008 9:26am
- Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts
Use this for a guide if you are thinking about entering a trade. If you are trading off the 1 hr chart for example, then your stop needs to be about 10 pips below the last low, or 10 pips + spread above the last high when going short. If after you figure it out and its to steep for you, then wait for a better opportunity. Please trade at your own risk.
Would you suggest the same for the daily chart?
Not all sins are created equal
- #42,354
- Oct 29, 2008 9:26am Oct 29, 2008 9:26am
- | Joined Nov 2007 | Status: Trader | 2,903 Posts
As some of you know, I am a newbie who has been trading the EUR/USD the last few days and lost a lot of his live account.
So tonight I went back to my demo to start from scratch.
About 5 hours ago I noticed an ascending triangle formation on the 15 minute chart.
In the last 4 hours Ive made over 100 pips, total profit $1079.
Of course I am crying because its my demo account and have been trading live and losing money the last 2 weeks.
But feels good that I spotted an actual pattern that fomed and used it to my advantage.
- #42,355
- Oct 29, 2008 9:26am Oct 29, 2008 9:26am
Some screen shots comparing the three indicators at hand:
1 and 2 (both found on above mentioned thread)
3 (posted by ToBe - is the same Akuma mentions in the Wolfe thread)
1. 0_WolfeWave_04m.ex4
Very much documented with what I think are fib values?? though it shows additional (yellow) lines, maybe of earlier setups. (Edit: indeed, it leaves the former setups on the charts. Could become very messy... but good for backtesting purposes
http://i47.photobucket.com/albums/f2...ece/0_wolf.gif
2. WolfeWave.mq4
Shows same setup as (1). Doesn't show the 2-4 line though.
http://i47.photobucket.com/albums/f2.../wolfewave.gif
3. Wolf.mq4
Gives a buy or sell alert on top, but seems to have its 1-3 line wrong.
http://i47.photobucket.com/albums/f200/doblece/wolf.gif
Indicators attached.
I personally think that number (1) seems better.
Edit: added PDF file for WolfeWave system.
According to Nš(1) setup, price would be bound to reach 1.25ish at the end of the day?
Who knows...
Hi
Mr. doblece
Will you please explain what is the parameters to beset in the metatrader, the indicaters you provided ?
Thanks in advance.
- #42,357
- Oct 29, 2008 9:29am Oct 29, 2008 9:29am
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
Nothing is ever for certain.
Morning sunT. Enjoying glancing at the charts now and then and won't trade again until i really don't care what anything does.
We (my wife and I) worked on a remote northern Alaska road job once where the oh so bright just out of college slipstick operators (civil engineers) had DRASTICALLY underestimated almost everything about the job, from the amount of material involved to the time it would take to complete. Becuz evrything had been bid, EVERY change required compensation to the contractor at a different rate, much higher than the scale used to estimate the original scope of work, such as $ per yard of rock placed.
"Rock placed" represented the total cost of knocking down the trees, scraping off dirt and overburden, drilling and blowing up the mountain, hauling it off in big trucks (our job), dumping it, and then everything required to turn all that into a finished road. The original job was bid at 1.3 million cubic yards and the final job required well over 2.1m yards...
You see the reason our motto that summer was "There's money in chaos." We had to get to the place where we didn't care what happened when we got into the trucks every day for 12 hours, for over 3 months straight. Total BS CHAOS every day. Lotta chaos that summer... lotta moolah.
These days remind me of those days. For instance we should of all bought some Volkwagen last week...
FUBAR...
- #42,359
- Oct 29, 2008 9:32am Oct 29, 2008 9:32am
- Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts
... and that is for certain.
Morning sunT. Enjoying glancing at the charts now and then and won't trade again until i really don't care what anything does.
We (my wife and I) worked on a remote northern Alaska road job once where the oh so bright just out of college slipstick operators (civil engineers) had DRASTICALLY underestimated almost everything about the job, from the amount of material involved to the time it would take to complete. Becuz evrything had been bid, EVERY change required compensation to the contractor at a different rate, much higher than the scale used to estimate the original scope of work, such as $ per yard of rock placed.
\"Rock placed\" represented the total cost of knocking down the trees, scraping off dirt and overburden, drilling and blowing up the mountain, hauling it off in big trucks (our job), and dumping it, and then everything required to turn all that into a finished road. The original job was bid at 1.3 million cubic yards and the final job required well over 2.1m yards...
You see the reason our motto that summer was \"There's money in chaos.\" We had to get to the place where we didn't care what happened when we got into the trucks every day for 12 hours, for over 3 months straight. Total BS CHAOS every day. Lotta chaos that summer... lotta moolah.
These days remind me of those days. For instance we should of all bought some Volkwagen last week...
The more inefficient the market, the more profitable it is
Not all sins are created equal
