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A new look at Wolf Waves

  • #161
  • Edited Mar 27, 2016 2:52pm Mar 23, 2016 6:23pm | Edited Mar 27, 2016 2:52pm
Hey Guys !!

Good work !!

I have seen your thread from start to finish.

For the rules, go here.

{ copyrighted content deleted by staff }
  • #162
  • Edited Mar 27, 2016 2:52pm Mar 23, 2016 6:37pm | Edited Mar 27, 2016 2:52pm
Quoting dan zanger
Hey Guys !! Good work !! I have seen your thread from start to finish. For the rules, go here. { copyrighted content deleted by staff }
Thanks for the link Dan!
Indentify > Plan > Accept > Execute
  • #163
  • Mar 23, 2016 7:57pm Mar 23, 2016 7:57pm
Quoting wizlon32
Check this out. I just wanted to try something out and did a bit of back testing. I know some of these patterns may not be ideal but I think they are all valid. This just shows how common, useful, and profitable these patterns are. This is USDJPY H1. Only 1 did not hit its target line, but still would have made a profit. The current one is still playing out. {image}
Superb !! Wiz ! U are Wiz Indeed !!

However, I just don't take megaphone and flats because, rules don't allow them.
  • #164
  • Edited Mar 27, 2016 2:52pm Mar 23, 2016 9:18pm | Edited Mar 27, 2016 2:52pm
Quoting dan zanger
Hey Guys !! Good work !! I have seen your thread from start to finish. For the rules, go here. { copyrighted content deleted by staff }
Thanks Dan,
I'll post the PDF to the first post. I was not able to find this when I searched for it.
Stay in touch (fellow Canadian).
  • #165
  • Mar 23, 2016 9:24pm Mar 23, 2016 9:24pm
Quoting profitkeeper
{quote} Thanks Dan, I'll post the PDF to the first post. I was not able to find this when I searched for it. Stay in touch (fellow Canadian).

Thanks PK !!

I am so much love with WW that, I want to take his course, but my shoe string budget doesn't allow me and I don't know what "advance" lessons he teaches, other than the basics in the above pdf file.

Yeah !! Stay in touch and thanks for starting this thread.
  • #166
  • Mar 23, 2016 11:26pm Mar 23, 2016 11:26pm
Quoting dan zanger
{quote} Thanks PK !! I am so much love with WW that, I want to take his course, but my shoe string budget doesn't allow me and I don't know what "advance" lessons he teaches, other than the basics in the above pdf file. Yeah !! Stay in touch and thanks for starting this thread.
I agree that $3,000 USD is a lot to pay for a course where you have no idea how much you will benefit. I don't know why course providers don't get creative with their fees. For instance, if say Mr. W believes in his course and $3,000 is what he is sure it is worth, why not have an arrangement with a broker, where the potential student will deposit that money into the broker for the student to use for trading WW for one year. At the end of the year, $3,000 is withdrawn by Mr. W for his fee, and the balance of the account is owned by the student who should have been able to at least double his account in that year. Motivation would be there for both the student and course provider to make sure the student is profitable and monitoring trades would be more direct.
What do you think?
  • #167
  • Mar 23, 2016 11:40pm Mar 23, 2016 11:40pm
Quoting profitkeeper
{quote} I agree that $3,000 USD is a lot to pay for a course where you have no idea how much you will benefit. I don't know why course providers don't get creative with their fees. For instance, if say Mr. W believes in his course and $3,000 is what he is sure it is worth, why not have an arrangement with a broker, where the potential student will deposit that money into the broker for the student to use for trading WW for one year. At the end of the year, $3,000 is withdrawn by Mr. W for his fee, and the balance of the account is owned by the student...
I agree.

but for successful trading one require money, method and risk management (& psychology). And this is just a method. So, no body can grantee success in this business. Now, what happens is when losing streak starts, (this happens with WW so many times), people start blaming the method and start their quest for new method. (I have done this number of times. LoL !!)
  • #168
  • Mar 24, 2016 6:42am Mar 24, 2016 6:42am
Possible play on GBP/AUD 5 minute:
Attached Image
  • #169
  • Mar 24, 2016 9:22am Mar 24, 2016 9:22am
Hello ! I found this way to take profit on Wolfe wave is more profitable then the original.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDM5.png Size: 26 KB
Even though I walk through the darkest valley, I will fear no evil
  • #170
  • Edited 1:35pm Mar 24, 2016 1:17pm | Edited 1:35pm
Here is a nice set up that happened on Gold H1 today.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 8 KB


I didn't see it until it was breaking the upper TL so didn't trade it.
Indentify > Plan > Accept > Execute
  • #171
  • Mar 24, 2016 1:31pm Mar 24, 2016 1:31pm
Quoting JohnnyR
Possible play on GBP/AUD 5 minute: {image}
Good one JohnnyR
Looks like it made it about 1/2 way (approx 70 pips) which is where I would have taken my first profit.
  • #172
  • Mar 24, 2016 1:34pm Mar 24, 2016 1:34pm
Quoting monocor
Hello ! I found this way to take profit on Wolfe wave is more profitable then the original. {image}
Interesting monocor, What ever works is fine. I usually take 1/2 profit at estimated 1/2 way to target, but yours looks like a good plan.
  • #173
  • Mar 24, 2016 1:37pm Mar 24, 2016 1:37pm
Quoting wizlon32
Here is a nice set up that happened on Gold H1 today. {image}
You are catching several good ones. Thanks for all your contributions.
  • #174
  • Mar 24, 2016 6:05pm Mar 24, 2016 6:05pm
Potential WW

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m5-oanda-division2.png Size: 41 KB
  • #175
  • Mar 24, 2016 6:56pm Mar 24, 2016 6:56pm
http://screencast.com/t/1qUwv7rP

would this be correct drawing for eurgbo 1 hr
  • #176
  • Mar 24, 2016 7:02pm Mar 24, 2016 7:02pm
If going strictly with rules, No.

It says two lines must converge.

But, Flat channel and megaphone can also be reversal pattern, hence price can come down.
  • #177
  • Mar 25, 2016 1:19am Mar 25, 2016 1:19am
Quoting dan zanger
If going strictly with rules, No. It says two lines must converge. But, Flat channel and megaphone can also be reversal pattern, hence price can come down.
I tend to agree with you Dan, however Linda (friend of Bill Wolfe) illustrates a couple of megaphone patterns in her PDF in the first post. I would only disqualify this pattern because point 5 never reached the top trend line (if it is drawn from the peaks of 1 & 3).
As you imply though, it may still work.

Thanks for your post Jalby and welcome.
  • #178
  • Mar 25, 2016 7:29am Mar 25, 2016 7:29am
Ok so things are a bit slow today due to various bank holidays so I decided to have a look at some longer time frame charts to see what opportunities I could find. I found plenty of Wolf Waves that have already played out and I will post a couple to highlight some of the techniques that I read in the various pdfs and other links that have been posted here.

I hope this is ok with you Profitkeeper.

As I have said before these patterns are new to me and this is obviously just my interpretation of what can be quite subjective patterns.

This chart below is EurJpy Monthly. The 1st pattern is obviously long gone but I really liked this pattern. Point 5 hit the 1-3 line pretty much to the pip and then never really looked back. By the time it hit the projected target line it had climbed about 2000 pips. But it didn't stop there - it carried on to climb about another 3500 pips.

The 2nd pattern is not completed yet but is a potential to watch out for.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 16 KB
Indentify > Plan > Accept > Execute
  • #179
  • Mar 25, 2016 7:51am Mar 25, 2016 7:51am
I had a bit of fun with this one and I will be keeping an eye on it with the hope of making a shed load of pips!

It is GbpJpy Monthly. There is a lot going on here and I will try to explain what I've done for those who may be unfamiliar.

Point 1 and 3 are established so I drew a parallel line from point 2 to predict an area for point 4.Price may not reach this line (ideally it won't).
I have drawn the red dotted lines as the distance from 2 to 4 may be similar to the distance from point 1 to 3 (uniformity). The little green arrows are just to show that point 4 could be somewhere around that area.

Notice how point 3 was at approx the 161.8 fib of point 1 to 2. I also plotted the fib of point 3 to my predicted point 4 to project the 161.8 retrace as an guide to where point 5 might form. (hope i'm not losing anyone).

The blue dotted lines is something that I have been trying as another way to predict point 5. I have drawn a line from point 2 to point 3, copied it and pasted it at the point of my predicted point 4. Once point 4 is clearly established I can have another look at this.

I think that is about it.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 33 KB
Indentify > Plan > Accept > Execute
  • #180
  • Mar 25, 2016 7:55am Mar 25, 2016 7:55am
This chart is an example of how to use a parallel line from point 2 to 4 and project it from point 3 to find the sweetspot for point 5. Bill Wole also said that he sometimes will project it from point 1.

This is CadJpy Weekly.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 15 KB
Indentify > Plan > Accept > Execute
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