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A new look at Wolf Waves

  • #121
  • Mar 17, 2016 11:41am Mar 17, 2016 11:41am
Quoting Poocher
Good luck Wiz. Its nice having your stop above the day's high. That's what I like about the eur$ trade I posted too.
Good point. Think mine was a bit too close though so moved it up a few pips more.
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  • #122
  • Mar 17, 2016 11:50am Mar 17, 2016 11:50am
Quoting wizlon32
EurSek H1 {image}
Update: EurSek hit it's target.

Attached Image (click to enlarge)
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  • #123
  • Mar 17, 2016 2:35pm Mar 17, 2016 2:35pm
Thanks, Wizlon, Poocher and Masilva for continuing to contribute.
I thought I would let the markets settle after the FOMC news and the resulting strong moves. The opportunities for Wolfe Waves dried up some what since WW depends on a bit of ranging activity. I think going forward we should see more setups.
Please keep the posts coming even if you are not sure about the setups. Coyote waves still often work, even if not technically correct.
  • #124
  • Mar 18, 2016 2:00pm Mar 18, 2016 2:00pm
Here is an idea for next week for GBPNZD. Left chart is H1, Right chart is D1 (I have already posted the D1 set up earlier in this thread).

H1 looks like it is due a pullback before hopefully continuing.

Attached Image (click to enlarge)
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  • #125
  • Mar 18, 2016 2:18pm Mar 18, 2016 2:18pm
Quoting wizlon32
Here is an idea for next week for GBPNZD. Left chart is H1, Right chart is D1 (I have already posted the D1 set up earlier in this thread). H1 looks like it is due a pullback before hopefully continuing. {image}
Just noticed that current price seems to be rejecting from the 161.8 retrace of the point 1 to 2 move. I don't know if this falls in to the normal analysis for these patterns - what do you think profitkeeper?

Attached Image
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  • #126
  • Mar 18, 2016 7:15pm Mar 18, 2016 7:15pm
Quoting wizlon32
Here is an idea for next week for GBPNZD. Left chart is H1, Right chart is D1 (I have already posted the D1 set up earlier in this thread). H1 looks like it is due a pullback before hopefully continuing. {image}
Thanks, I have it in my list to watch...

';-)
  • #127
  • Edited 1:34am Mar 20, 2016 12:38am | Edited 1:34am
Quoting wizlon32
{quote} Just noticed that current price seems to be rejecting from the 161.8 retrace of the point 1 to 2 move. I don't know if this falls in to the normal analysis for these patterns - what do you think profitkeeper? {image}
Sorry Wizlon,
I've been away for a couple of days.
Yes, it looks good and someone posted a while back that the points often correspond with Fib levels. I really haven't looked into it before.
I have actually been looking for Wolfe Waves in stocks earlier today, and found a couple of outstanding examples - but unfortunately they were both in the past. Since there are 3 or 4 thousand stocks, it is really just chance that you find one. As far as I know, there is no accurate scanner for WW in either forex or stocks.
Here is one stock example.
Attached Image (click to enlarge)
Click to Enlarge Name: wolf waves025.png Size: 59 KB

Edit: I just found a screener that may be useful to those who trade stocks as well as forex. Finviz website has screeners for "wedge up" and "wedge down" in stocks. You can then check the results for Wolf Waves. I found a couple of current ones that way. Maybe someone knows of a similar screener/dashboard for forex.
http://finviz.com/screener.ashx?v=210&s=ta_p_wedgeup
  • #128
  • Edited 8:31am Mar 20, 2016 8:08am | Edited 8:31am
A couple of brokers that I use provide me with a free subscription to AutoChartist. I think this is similar to a screener. I receive emails containing various patterns that are in the making or I can log in online to view them.

To be honest I have not really paid it much attention but I might start to have a quick look when these emails come through to see if anything catches my eye.

It doesn't show Wolf Waves but it does show rising / falling wedges and triangles (and various other formations) so same thing really depending on how you interpret it.
I also just remembered that I have a the mobile app too.
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  • #129
  • Mar 20, 2016 10:31am Mar 20, 2016 10:31am
I stumbled across this and think it is worth a look.

http://www.chart.nu/wolfewave.htm
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  • #130
  • Mar 20, 2016 1:40pm Mar 20, 2016 1:40pm
After looking at the info at the link I posted above I decided to have a look at the Gold Monthly chart. Thought I would post the image below for interest.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 10 KB
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  • #131
  • Mar 20, 2016 2:37pm Mar 20, 2016 2:37pm
Here is a potential that I just posted on Shemski's Naked Charts thread.

Below is UsdJpy H1

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 9 KB
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  • #132
  • Mar 20, 2016 3:17pm Mar 20, 2016 3:17pm
Quoting wizlon32
Here is a potential that I just posted on Shemski's Naked Charts thread. Below is UsdJpy H1 {image}
My interpretation of the USD/JPY - probably works either way.
Careful with Sunday patterns though.
Attached Image

The gold pattern was good - I never look at the monthly.
  • #133
  • Mar 20, 2016 3:30pm Mar 20, 2016 3:30pm
Quoting wizlon32
I stumbled across this and think it is worth a look. http://www.chart.nu/wolfewave.htm
That seems to be a good site and will add it to post 1
Thanks, Wizlon
  • #134
  • Mar 20, 2016 3:32pm Mar 20, 2016 3:32pm
Quoting profitkeeper
{quote} My interpretation of the USD/JPY - probably works either way. Careful with Sunday patterns though.{image} The gold pattern was good - I never look at the monthly.
Agreed. Looks more realistic than mine and more accurate regarding the swings within the pattern.
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  • #135
  • Mar 20, 2016 5:17pm Mar 20, 2016 5:17pm
Here is Gold H1. Current PA looks like a bearish flag - this might spark a move down to produce point 5. Lets see....

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 13 KB
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  • #136
  • Mar 20, 2016 7:04pm Mar 20, 2016 7:04pm
I checked out autochartist rising and falling wedges on Oanda and it was interesting. If you redraw the lines they have, a couple of their failed patterns on strictly wedge patterns, they were actually successful patterns if you drew them as Wolfe Waves. Anyway this could be a good resource for finding patterns. Thanks Wizlon for mentioning Autochartist. If you go to technical analysis in Oanda FX Trade platform (left side), they have a full analysis available - not just current recommendations.
  • #137
  • Mar 20, 2016 7:14pm Mar 20, 2016 7:14pm
Quoting profitkeeper
I checked out autochartist rising and falling wedges on Oanda and it was interesting. If you redraw the lines they have, a couple of their failed patterns on strictly wedge patterns, they were actually successful patterns if you drew them as Wolfe Waves. Anyway this could be a good resource for finding patterns. Thanks Wizlon for mentioning Autochartist. If you go to technical analysis in Oanda FX Trade platform (left side), they have a full analysis available - not just current recommendations.
No problem, hopefully it will help us.

In the site that I posted the link to he talks about fib ratios with Wolf Waves a little. He said point 3 and 5 can be a 127 or 162 reteacement from the previous wave.

So regarding my H1 gold chart above, here is an idea.....

Attachment

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 10 KB
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  • #138
  • Edited 7:32pm Mar 20, 2016 7:17pm | Edited 7:32pm
Quoting wizlon32
{quote} No problem, hopefully it will help us. In the site that I posted the link to he talks about fib ratios with Wolf Waves a little. He said point 3 and 5 can be a 127 or 162 reteacement from the previous wave. So regarding my H1 gold chart above, here is an idea..... 1884977 {image}
Sorry, I don't know why this chart didn't upload 1st time.

EDIT: New screen shot.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 11 KB
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  • #139
  • Mar 20, 2016 8:40pm Mar 20, 2016 8:40pm
Quoting profitkeeper
{quote} My interpretation of the USD/JPY - probably works either way. Careful with Sunday patterns though.{image} The gold pattern was good - I never look at the monthly.
Looks like the USD/JPY trade is working well. I've taken the first profit off and waiting for the target to close the balance.
  • #140
  • Mar 21, 2016 1:54am Mar 21, 2016 1:54am
Gold H1. So far so good.

Attached Image
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