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A new look at Wolf Waves

  • #61
  • Edited 3:06pm Mar 12, 2016 2:34pm | Edited 3:06pm
Quoting wizlon32
What do you think of this? Its USDCAD H1. {image}
I agree. It looks good

But this is where my bias shows through. I am Canadian and would not like to see this happen to our dollar after it has struggled to get this far. My forex accounts are even in Cdn dollars. We even sent our new Prime Minister to suck up to Obama. For this to reach it's profit target, it would mean a 300+ pip move. LOL
  • #62
  • Mar 12, 2016 3:18pm Mar 12, 2016 3:18pm
Quoting profitkeeper
{quote} I agree. It looks good But this is where my bias shows through. I am Canadian and would not like to see this happen to our dollar after it has struggled to get this far. My forex accounts are even in Cdn dollars. We even sent our new Prime Minister to suck up to Obama. For this to reach it's profit target, it would mean a 300+ pip move. LOL
Not good for you then if this one comes off......but here is another perspective looking at the daily chart. I think we could see a pullback. 300pips would do me!

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Indentify > Plan > Accept > Execute
  • #63
  • Edited 7:12pm Mar 12, 2016 4:38pm | Edited 7:12pm
I don't know whether this is the PDF that HighFivve was referring to, but it is a good outline of Wolfe Waves:
http://www.forexmt4.com/_MT4_Tutoria...fe%20Waves.pdf
By the way, be careful downloading other "manuals" etc. I tried to download one and ended up with several viruses and unwanted programs that took me a day to clear.

Edit: I just noticed that one of the waves in the PDF is a "reverse wedge" i.e. megaphone pattern, and she is a friend of Bill Wolfe - so I guess that is acceptable too.
  • #64
  • Edited 9:32pm Mar 12, 2016 9:14pm | Edited 9:32pm
Quoting profitkeeper
{quote} Hey Masilva, Do you want to comment on your trade or can I?
Hi Profitkeeper, be my guest. No problem if you want to comment on it.
Unfortunately for me on that trade price went exactly to my SL to the pip, and immediately after it started to go up the my TP.

We may want to discuss how many pips from the low/high should be a good place to set the SL.

Best regards. I'm ready for the next one we could find.

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  • #65
  • Mar 13, 2016 1:04am Mar 13, 2016 1:04am
Quoting masilva
{quote} Hi Profitkeeper, be my guest. No problem if you want to comment on it. Unfortunately for me on that trade price went exactly to my SL to the pip, and immediately after it started to go up the my TP. We may want to discuss how many pips from the low/high should be a good place to set the SL. Best regards. I'm ready for the next one we could find. {image} {image}
I feel for you.
I suspected that may have happened. If I was in that trade, I would have put my stop in the same place.
The only thing I might suggest is that you could have done one of the most difficult things (for me) in trading. You could have re-entered the trade after you got stopped out. It would mean that you had confidence in the outcome, and a confirmation that it was going to follow through. (Sorry if I shook your confidence). I know many traders here scorn indicators, but I always have an 8,3,3 Stochastics on my charts, just for confirmation. If you check it out, you will see that there was a divergence on the second dip low. The blue bumpy line over laid is the one hour 8,3,3, which also diverged and both started to head up.
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  • #66
  • Mar 13, 2016 8:41am Mar 13, 2016 8:41am
Quoting profitkeeper
I don't know whether this is the PDF that HighFivve was referring to, but it is a good outline of Wolfe Waves: http://www.forexmt4.com/_MT4_Tutoria...fe%20Waves.pdf By the way, be careful downloading other "manuals" etc. I tried to download one and ended up with several viruses and unwanted programs that took me a day to clear. Edit: I just noticed that one of the waves in the PDF is a "reverse wedge" i.e. megaphone pattern, and she is a friend of Bill Wolfe - so I guess that is acceptable too.
Thanks for the link! I found this WW (or CW?) after reading Linda's pdf:
Although it fits her rules, I think it would be hard to spot in realtime. One hour GBY/JPY on 10 March.
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  • #67
  • Mar 13, 2016 11:11am Mar 13, 2016 11:11am
Quoting profitkeeper
{quote} .... I always have an 8,3,3 Stochastics on my charts, just for confirmation. If you check it out, you will see that there was a divergence on the second dip low. The blue bumpy line over laid is the one hour 8,3,3, which also diverged and both started to head up.{image}
Thanks for The suggestion. I will add the stochastic to my template.

Best regards
  • #68
  • Mar 13, 2016 12:59pm Mar 13, 2016 12:59pm
Found this one today. Missed the best entry point but will be interested to see how it plays out.

However I am curious is this is even valid as I have discounted the 2 points that I have marked with question marks. Any opinions?

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Indentify > Plan > Accept > Execute
  • #69
  • Mar 13, 2016 2:23pm Mar 13, 2016 2:23pm
Quoting wizlon32
Found this one today. Missed the best entry point but will be interested to see how it plays out. However I am curious is this is even valid as I have discounted the 2 points that I have marked with question marks. Any opinions? {image}
After reading the pfd that profitkeeper provided the link to I think I can answer my own question. In my opinion the set up is valid, although it may not be considered a top notch set up as point 4 is lower than point 1.
Indentify > Plan > Accept > Execute
  • #70
  • Mar 13, 2016 2:38pm Mar 13, 2016 2:38pm
Quoting JohnnyR
{quote} Thanks for the link! I found this WW (or CW?) after reading Linda's pdf: Although it fits her rules, I think it would be hard to spot in realtime. One hour GBY/JPY on 10 March. {image}
Good to see you back,
I would say that this is another coyote wave that worked. Linda's rule #3 says "point 3 must be lower than point 1" on a bullish set up.
  • #71
  • Edited 3:01pm Mar 13, 2016 2:47pm | Edited 3:01pm
Quoting wizlon32
Found this one today. Missed the best entry point but will be interested to see how it plays out. However I am curious is this is even valid as I have discounted the 2 points that I have marked with question marks. Any opinions? {image}
I think your count sequence is fine - but it is another coyote wave that might work.
Rule #4 in Linda's PDF says that "point 4 should be higher than point 1" in a bullish setup.
Am I getting too technical? GnwFx would be proud.

Edit: You must have been posting at the same time. I see you already noticed this.
  • #72
  • Mar 13, 2016 3:19pm Mar 13, 2016 3:19pm
Amazing!!!
2 weeks and no trolls and no one has posted a Wolfe Wave that was an utter failure.
  • #73
  • Mar 13, 2016 4:00pm Mar 13, 2016 4:00pm
Quoting profitkeeper
Amazing!!! 2 weeks and no trolls and no one has posted a Wolfe Wave that was an utter failure.
No failures yet lol, but plenty time for that as my 2 haven't played out yet . And i'm sure the trolls will be along soon!
Indentify > Plan > Accept > Execute
  • #74
  • Mar 13, 2016 4:13pm Mar 13, 2016 4:13pm
Quoting profitkeeper
Amazing!!! 2 weeks and no trolls and no one has posted a Wolfe Wave that was an utter failure.

Profitkeeper its just a matter of time before the trolls show...its guaranteed.

Your thread is good stuff so when they come please don't hesitate to ignore them in their profile so they can't post in your thread anymore.

I keep trying to find some old Wolfe wave charts I saved to study and post 'em here so I can contribute to your thread as something other than a know it all.

Have a great trading week all you Woofy Wavers.
  • #75
  • Mar 13, 2016 4:22pm Mar 13, 2016 4:22pm
Quoting Poocher
{quote} Profitkeeper its just a matter of time before the trolls show...its guaranteed. Your thread is good stuff so when they come please don't hesitate to ignore them in their profile so they can't post in your thread anymore. I keep trying to find some old Wolfe wave charts I saved to study and post 'em here so I can contribute to your thread as something other than a know it all. Have a great trading week all you Woofy Wavers.
Thanks Poocher.
  • #76
  • Mar 13, 2016 5:59pm Mar 13, 2016 5:59pm
Hey wizlon,
Your USD/CAD trade looks to have started out well. I put a limit order in a bit lower, but so far it hasn't triggered. I may have to go with a market order if it won't retrace.
  • #77
  • Mar 13, 2016 7:14pm Mar 13, 2016 7:14pm
Have been checking out some 5 minute charts. Traded this one - sorry I didn't post as it set up. Will try next time. It is a 5 min Aud/Jpy
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  • #78
  • Edited 9:13pm Mar 13, 2016 8:57pm | Edited 9:13pm
Another 5 minuter that I missed and didn't trade.
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Short term setups are hard to post with charts comment, etc. If I see one, I think I'll just post without a chart. Others can do the same.
  • #79
  • Mar 13, 2016 11:51pm Mar 13, 2016 11:51pm
Markets are extremely quiet. See you tomorrow.
  • #80
  • Mar 14, 2016 3:59am Mar 14, 2016 3:59am
Today trade:
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