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A new look at Wolf Waves

  • #381
  • May 9, 2016 4:24pm May 9, 2016 4:24pm
Quoting ChicagoRob
eurusd + eurjpy = money in the bank {image} {image}
​What timeframe are these on Rob?
  • #382
  • May 9, 2016 4:39pm May 9, 2016 4:39pm
Quoting JackAntigua
{quote} ​What timeframe are these on Rob?
All my trades are on D1.
  • #383
  • May 10, 2016 8:10am May 10, 2016 8:10am
Found this today in GBPCAP 4hour.

Big negative divergence also! Is this a valid setup?

I took a sell position with a tight stop, so wish me luck.

And as you can see you also have a small WW at the top.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD4H.png Size: 84 KB
  • #384
  • May 10, 2016 8:44am May 10, 2016 8:44am
Quoting TheBody
Found this today in GBPCAP 4hour. Big negative divergence also! Is this a valid setup? I took a sell position with a tight stop, so wish me luck. And as you can see you also have a small WW at the top. {image}
​I'm not quite sure, I guess some might say it's a failed WW because of the time it has already spent above the 1-3-5 line. It's also hit the 2-4 line projected from point 3 on a number of occasions but as you say, now we've got divergence it may be the trigger to take price down.

Good luck with your trade.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD 240 min 10 May 2016.PNG Size: 99 KB
  • #385
  • May 10, 2016 9:08am May 10, 2016 9:08am
Quoting TheBody
Found this today in GBPCAP 4hour. Big negative divergence also! Is this a valid setup? I took a sell position with a tight stop, so wish me luck. And as you can see you also have a small WW at the top. {image}
There isn't sufficient price action for me below the 1-3-5 line, plus you have a bullish pin bar, which would
keep me out of the trade.
  • #386
  • May 10, 2016 2:47pm May 10, 2016 2:47pm
Possible WW developing on AU 5 min. I'd like to see the 5 cross/recross the 1-3 line; maybe that will happen this evening.
Attached Image (click to enlarge)
Click to Enlarge Name: 5-10 ww.PNG Size: 25 KB
  • #387
  • May 11, 2016 7:18am May 11, 2016 7:18am
​One in progress, shame I didn't notice it when it formed !
Attached Image (click to enlarge)
Click to Enlarge Name: DOW Renko 11 May 2016.PNG Size: 78 KB
  • #388
  • May 12, 2016 11:18pm May 12, 2016 11:18pm
You guys are doing great without my intervention.
I thought I would post a questionable WW happening now.
Which is point 4? If it is the first one (being the higher of the two) it would cut through the second 4. Would that invalidate the WW?
Attached Image (click to enlarge)
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  • #389
  • May 12, 2016 11:36pm May 12, 2016 11:36pm
This is a compact WW completed earlier today.
Attached Image (click to enlarge)
Click to Enlarge Name: wolf waves048.png Size: 80 KB
  • #390
  • Edited 2:48am May 13, 2016 12:45am | Edited 2:48am
By the way, I am in the AJ trade with a couple of small positions. If it can get past the resistance from the 3 downward spikes, we should be good - if not then...
Attached Image (click to enlarge)
Click to Enlarge Name: wolf waves049.png Size: 90 KB


Edit: Just got stopped out. I shouldn't take trades I am unsure about even if it is a small position.

Edit2: Having some fun here. I've set up a stop buy revenge trade
  • #391
  • May 13, 2016 7:25am May 13, 2016 7:25am
Hi Profitkeeper! That Audjpy 30min looked real messy to me.
Here is my take on it.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY30M.png Size: 70 KB
  • #392
  • May 13, 2016 12:14pm May 13, 2016 12:14pm
Quoting TheBody
Hi Profitkeeper! That Audjpy 30min looked real messy to me. Here is my take on it. {image}
You are probably right.
That's what comes of a long winning streak where even questionable trades went my way. Even though I had only a small position, I needed that to bring me back to my senses, and take only the good setups.
  • #393
  • May 13, 2016 12:26pm May 13, 2016 12:26pm
Took this trade on AudCad 4hour.

Price overshot 5 - check!

Price should now move up to at least the lower 4 line - this is conservative target zone.
Or it could go to touch the actual 4 line - aggressive target zone.
Attached Image (click to enlarge)
Click to Enlarge Name: AudCad4h.png Size: 23 KB
  • #394
  • May 15, 2016 11:13am May 15, 2016 11:13am
Quoting TheBody
Took this trade on AudCad 4hour. Price overshot 5 - check! Price should now move up to at least the lower 4 line - this is conservative target zone. Or it could go to touch the actual 4 line - aggressive target zone. {image}
​I'd be careful with this one, at point 3 on my data the bar low was higher than at point 1 with an absence of the prominent lower wick you have on your chart.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD 240 min 15 May 2016.PNG Size: 59 KB
  • #395
  • May 15, 2016 2:46pm May 15, 2016 2:46pm
Yeah i see it on dailyfx.com, there is no lower wick.
But on my fxpro MT4 demo account there is a wick, and its identical to my Activtrades MT5 real account.

Why this discrepancy do you think?

Also, do you have any nice chart setups for the coming week?
  • #396
  • May 15, 2016 4:22pm May 15, 2016 4:22pm
Quoting TheBody
Yeah i see it on dailyfx.com, there is no lower wick. But on my fxpro MT4 demo account there is a wick, and its identical to my Activtrades MT5 real account. Why this discrepancy do you think? Also, do you have any nice chart setups for the coming week?
​Different brokers, different prices I guess, and some are worse than others. Markets with a centralised exchange such as futures don't suffer this of course.

I haven't really looked at any setups yet, probably do so in the morning.
  • #397
  • May 16, 2016 9:02am May 16, 2016 9:02am
Right now on DJI30 (30 min chart).

I am in doubt with the number 1. Is it valid?
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  • #398
  • May 16, 2016 10:53am May 16, 2016 10:53am
Quote
Is it valid?
yours is bearish WW.on the lowest(dippest) levels we look for bullish WW.it seems conradictive
  • #399
  • May 16, 2016 12:07pm May 16, 2016 12:07pm
Thank you for your reply. I wasn't sure if I could accept the point 1 as valid. But the price didn't come back across 1-3-5 line so it wasn't fullfilled WW anyway.

Today I catched another one, EURGBP (1 hour chart). What do you think? Correct setup?
Attached Image (click to enlarge)
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  • #400
  • May 16, 2016 12:40pm May 16, 2016 12:40pm
Took this trade on CADJPY 15m.

Had a chance to get a short in above the 5 point.

Does this look like a good WW-pattern?
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY15.png Size: 45 KB
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