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A new look at Wolf Waves

  • #481
  • Nov 25, 2016 3:04pm Nov 25, 2016 3:04pm
Quoting pep17
Great trading on DAX today, i found this wolf, I left the order opened cuz of the inverted HCH. {image}
Nice Trade Pep17!
Indentify > Plan > Accept > Execute
  • #482
  • Nov 25, 2016 4:57pm Nov 25, 2016 4:57pm
Looks like this thread has been revived.
Welcome to all the new traders who posted.
HarmonicView - The target would have hit today
Tyross - I think you are the first to post a 1 minute chart. Wow!
  • #483
  • Nov 26, 2016 1:57am Nov 26, 2016 1:57am
Quoting profitkeeper
Looks like this thread has been revived. Welcome to all the new traders who posted. HarmonicView - The target would have hit today Tyross - I think you are the first to post a 1 minute chart. Wow!
Ha! Ha! Ha!

I only trade Eur-Aud on m5-m1. It's my best friend.

Thank You for this thread, Profitkeeper. A very very good idea!!

I'll post many other charts. But....i'm so sorry, my English is...
Dax only.
  • #484
  • Nov 26, 2016 3:36am Nov 26, 2016 3:36am
Quoting profitkeeper
Looks like this thread has been revived. Welcome to all the new traders who posted. HarmonicView - The target would have hit today Tyross - I think you are the first to post a 1 minute chart. Wow!
Hi Profitkeeper,
you are right, but I prefer to close the trade when it's late, and Friday afternoon is very poor in volume. In some market conditions everything can happen...I prefer to put the pips in my pocket, I don't care to leave some "on the table", the day after I can find many other opportunities.

About the 1 minute, I can assure the there are many opportunities everyday on 1 minute chart. It has the problem about the spread on some pair, and there is no time to post them here before confirmation, if you do the wave is already in action.
  • #485
  • Nov 27, 2016 8:05am Nov 27, 2016 8:05am
Is this a proper way of using Wolfe Waves? Trying to make sure I understand this correctly.
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  • #486
  • Nov 27, 2016 11:22am Nov 27, 2016 11:22am
Quoting meepstone
Is this a proper way of using Wolfe Waves? Trying to make sure I understand this correctly. {image}
Completely wrong.
Point 5 must be a HH or a LL (or at least at the same level of 1 and 3, but is rare like a triple top or bottom). In your first wave it is a LH.
The second wave I don't understand, too messy...but I thing that in any case 5 is out from the Sweet zone.

Anyway, the pdf in the first post explains it better..or there are many sources online.
  • #487
  • Nov 27, 2016 12:00pm Nov 27, 2016 12:00pm
Quoting meepstone
Is this a proper way of using Wolfe Waves? Trying to make sure I understand this correctly. {image}
Try looking smaller scale meepstone. The areas in the blue circles are not necessarily wolfe waves but these are the sort of areas and relevant scale that you want to be looking at.

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Indentify > Plan > Accept > Execute
  • #488
  • Nov 28, 2016 8:30am Nov 28, 2016 8:30am
Traded today
AudCad
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GbpUsd
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AudUsd, still in action, I have stop loss in profit at the red line. I have to go now, I can't stay at computer. So, if it goes it's good, if not, I'm in profit in any case.
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  • #489
  • Dec 2, 2016 3:05am Dec 2, 2016 3:05am
Hi !

Usd-Jpy, H1.
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Dax only.
  • #490
  • Dec 2, 2016 4:08am Dec 2, 2016 4:08am
Hey guys,
I would love if someone comments on this trade and what I did wrong
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Blue line is were entered, red line was the stop which was hit.
EDIT: fml.. Target line was hit -.- still what should I wait to avoid such premature entry ?
  • #491
  • Dec 2, 2016 4:13am Dec 2, 2016 4:13am
Quoting Tyross
Hi ! Usd-Jpy, H1. {image}
Nice, another one is creting on AudUsd..but today there is NFP, so be careful.
  • #492
  • Dec 2, 2016 4:16am Dec 2, 2016 4:16am
Quoting Devilhunter
Hey guys, I would love if someone comments on this trade and what I did wrong {image} Blue line is were entered, red line was the stop which was hit. EDIT: fml.. Target line was hit -.- still what should I wait to avoid such premature entry ?
It could also work, but it's ugly and Gbp could be a falling knife.

Don't trade all the Wolfe Waves you see. Tray to select better them and trade only the best setup.
  • #493
  • Dec 2, 2016 4:19am Dec 2, 2016 4:19am
Quoting HarmonicView
{quote} It could also work, but it's ugly and Gbp could be a falling knife. Don't trade all the Wolfe Waves you see. Tray to select better them and trade only the best setup.
Alright but based on what criteria should I filter them? That looked like a promising entry, at least to me I mean did I do something wrong with the fake brakeout part ? Another reason for my entry were the positive GBP news
  • #494
  • Dec 2, 2016 4:26am Dec 2, 2016 4:26am
Quoting Devilhunter
{quote} Alright but based on what criteria should I filter them? That looked like a promising entry, at least to me I mean did I do something wrong with the fake brakeout part ?
The entry seems good. Than you got stopped. You could enter again if there area new conditions.

Filter them...some idea can be symmetry between the legs (in that case leg 3-4 is small, but respects the rules), and also finding S/R areas can help to get a better win rate
  • #495
  • Dec 2, 2016 8:10am Dec 2, 2016 8:10am
This morning (in France), there was a Wolfe on Usd -jpy, H1 (chart on post 489).

And good NFP....

No trade (NFP...), but just an example of Wolfes wave. :=)
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Dax only.
  • #496
  • Dec 6, 2016 10:42am Dec 6, 2016 10:42am
Hey Profitkeeper thanks for starting this thread!

I really like trading wolfe waves and happy to see a place like this sharing ideas on it. Still working my way thru all the older posts.

I only trade the ES and just intraday for now so I'll only be able to post examples from that.

Here is one for you guys that was setting up just prior to the RTH open on the 15min. I only trade the RTH session so I didn't take it but I had it in the back of my mind when trying to take in the context for the day.

I'm new to Forex Factory forum so I hope my image gets uploaded ok.
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  • #497
  • Dec 6, 2016 2:25pm Dec 6, 2016 2:25pm
Wanted to show another example of how I use Wolfe Waves on a 1min chart.

I generally will only use these entries if I feel pretty confident about the overall direction of the market. It also helps if I see point 5 lining up with a support area, in the 1min example I've hilighted it, in the example I posted this AM point 5 was running into PDH where I expected to see a reaction anyways.

Also on this 1min example you will see a short term Tick extreme which I remember Bill Wolfe talking about, although he uses Dow Jones Tick, but I prefer NYSE TICK.
Further by the time we came down into point 5 we were making a divergence on the TICK.

1-4 line target was made easily and you could have exited on the Tick Divergence once we broke the ONH, or manage however based on discretion.

If you looked at Market internals at the time everything was quite positive.
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  • #498
  • Dec 7, 2016 11:46am Dec 7, 2016 11:46am
Here's a couple more examples of how I was using some micro wolfe waves to get on board a larger trend up.

The one thing I don't like about using a 1min Wolf Wave is obviously the targets are not going to be huge, but if you play them in the right context, they can be nice ways to get into a bigger trend. Had I managed to catch either of these the R:R would have been pretty nice!

My bias today was long again, and I was hoping to find the LOD or first higher low sometime this am, but missed both shots as explained. I generally like to focus on the opening couple of hours so my plays for the day are done.

Curious what you guys have found that adds to the success of your wolfe wave trades.

One thing I think could also be useful that I don't hear much about is correlation with similar markets, if your market is making a point 5 while a correlated market is making a higher or equal low, I think that would put the odds more in your favor. I like to use the YM and the NQ to a lesser extent when trading the ES. I think the concept of using correlated markets to confirm your trade can help a lot even in forex.

Anyways that's just one idea.
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  • #499
  • Dec 7, 2016 3:31pm Dec 7, 2016 3:31pm
Hi Robin!

Very interesting method! It works well, Thanks!

Eur Aud- m1
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Dax only.
  • #500
  • Dec 7, 2016 3:39pm Dec 7, 2016 3:39pm
And the same method as Robin.

Very strong point 5....

Eur aud- m1
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Dax only.
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