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A new look at Wolf Waves

  • #421
  • Jun 13, 2016 2:29am Jun 13, 2016 2:29am
Gold H1

Is this a likely Wolfe Wave pattern?

Thanks

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"The markets can remain irrational longer than you can remain solv
  • #422
  • Jun 13, 2016 4:02pm Jun 13, 2016 4:02pm
Possibly, but i wouldn't touch anything untill after the UK voting. I don't trust price these days....
  • #423
  • Jun 13, 2016 6:44pm Jun 13, 2016 6:44pm
Hi TheBody,

Thanks. Many important news ahead.

Quoting TheBody
Possibly, but i wouldn't touch anything untill after the UK voting. I don't trust price these days....
"The markets can remain irrational longer than you can remain solv
  • #424
  • Edited 3:50am Jun 15, 2016 3:38am | Edited 3:50am
May 4th i posted this GBPNZD daily....

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Here is what actually happend....

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Just thought to share it with you guys.
  • #425
  • Jun 25, 2016 1:20pm Jun 25, 2016 1:20pm
I am not a Wolfe Wave expert, but this is up for discussion.

Brexit target.

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  • #426
  • Jun 25, 2016 1:47pm Jun 25, 2016 1:47pm
Quoting Wab
I am not a Wolfe Wave expert, but this is up for discussion. Brexit target. {image}
Interesting.
The drop doesn't look half as scary on a monthly chart. Of course, the target price is not necessarily the stopping point, but a good indicator never the less.
Nice to hear from you Wab.
  • #427
  • Jun 25, 2016 8:04pm Jun 25, 2016 8:04pm
Thanks for all the charts PK & others. I 1st heard about WW several years ago, but could not find them. The numbers seemed to be very subjective, and I couldn't remember the order. After looking at several pages of charts, they now stand out much better.
  • #428
  • Jun 26, 2016 6:43pm Jun 26, 2016 6:43pm
Gotta give it a shot; AudCad M15. Setting up, Maybe...
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  • #429
  • Jun 26, 2016 8:03pm Jun 26, 2016 8:03pm
Quoting diamonddbw
Gotta give it a shot; AudCad M15. Setting up, Maybe... {image}
Hi diamond,
I never say never, but it looks like price has already dropped below your point 4. I usually find it easier to draw the wedge shape first. That is connect 1 &3 then 2&4. Price should stay within those bounds except for point 5 which is usually just beyond line 1 - 3.
  • #430
  • Jun 26, 2016 8:30pm Jun 26, 2016 8:30pm
Quoting profitkeeper
{quote} Hi diamond, I never say never, but it looks like price has already dropped below your point 4. I usually find it easier to draw the wedge shape first. That is connect 1 &3 then 2&4. Price should stay within those bounds except for point 5 which is usually just beyond line 1 - 3.
++++++++++++++++++++++++++++++++

Correct. Price just now dropped below 4, making this trade totally unsavory for me.
  • #431
  • Edited 9:04pm Jun 26, 2016 8:33pm | Edited 9:04pm
I'm in this CadChf long. It's about 1:2.1 R:R. On these, my plan is to only take those offering 1:2 minimum.

Update: Cratered.

I'll have another look after markets open.
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  • #432
  • Jun 26, 2016 10:09pm Jun 26, 2016 10:09pm
Welcome diamonddbw!

I'm no expert, but i think in reference to your CadChf, the point 3 needs to be lower than point 1, and point 5 needs to be lower than point 3 for it to be a valid WW-formation.

I hope someone else corrects me if this is wrong.
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  • #433
  • Jun 27, 2016 2:12am Jun 27, 2016 2:12am
Quoting diamonddbw
I'm in this CadChf long. It's about 1:2.1 R:R. On these, my plan is to only take those offering 1:2 minimum. Update: Cratered. I'll have another look after markets open. {image}
I think you are one wave behind in your analysis. I believe the sequence should have started at the swing high before wave one on the chart, which would have resulted in a short trade.
  • #434
  • Jun 27, 2016 7:42am Jun 27, 2016 7:42am
Thanks TheBody & ChicagoRob. I'm currently in the lab rewiring my neural network... :nerd:
  • #435
  • Jun 28, 2016 4:53pm Jun 28, 2016 4:53pm
Not too many waves posted lately, so I thought I'd post this one that triggered in the NY session yesterday
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There was a couple of spots you could have entered, but generally I like to enter on a close below the 1 - 3 line (for upward wedge).
Price didn't quite make it to the traditional profit target, but hit two of the alternate targets:
1. horizontal line from point 4
2. 62% fib of the whole pattern.
  • #436
  • Jun 28, 2016 6:04pm Jun 28, 2016 6:04pm
Quoting profitkeeper
Not too many waves posted lately, so I thought I'd post this one that triggered in the NY session yesterday{image} There was a couple of spots you could have entered, but generally I like to enter on a close below the 1 - 3 line (for upward wedge). Price didn't quite make it to the traditional profit target, but hit two of the alternate targets: 1. horizontal line from point 4 2. 62% fib of the whole pattern.
​Hi PK,

I was wondering, should point 1 not be the highest point (up to that point)? There was a higher point just to the left which could be point 1.
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  • #437
  • Jun 28, 2016 11:20pm Jun 28, 2016 11:20pm
Quoting JackAntigua
{quote} ​Hi PK, I was wondering, should point 1 not be the highest point (up to that point)? There was a higher point just to the left which could be point 1. {image}
Hi Jack,
Good point, and normally that's what I would look at. In this case point 1 was an interim high and there is precedent for this in one of the PDFs at the start of the thread.
I've added the alternate point 1. It would still have worked but with a slightly bigger stop loss and a smaller profit. Some may argue that in this case line 1 - 3 is too horizontal, but I'm OK with it.
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Still about 100pips
  • #438
  • Jun 29, 2016 10:15am Jun 29, 2016 10:15am
OK, out of the lab, for the moment.

Just saw this in EurAud M15. To me, it looks valid. Weigh in if you have any comments... Please.

The Red vertical, arrow, and circles may be the textbook target areas. Comments on this, please, as well.
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  • #439
  • Jun 29, 2016 12:15pm Jun 29, 2016 12:15pm
Quoting diamonddbw
OK, out of the lab, for the moment. Just saw this in EurAud M15. To me, it looks valid. Weigh in if you have any comments... Please. The Red vertical, arrow, and circles may be the textbook target areas. Comments on this, please, as well. {image}
Looks good to me.
  • #440
  • Jun 29, 2016 12:39pm Jun 29, 2016 12:39pm
Quoting profitkeeper
{quote} Looks good to me.
++++++++++++++++++++++++++++++++

Thanks for checking PK. I may only shoot for the area of the #4 horizontal. Right above there is quite a lot of resistance. Now trailing by about 53 pips, so risk is less than 15 pips.

I got up late today, otherwise I might have seen it soon enough to get in around #5. Wishful thinking...
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