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Wolfe Waves - Get in the Zone

  • #21
  • Edited Mar 4, 2017 1:21am Mar 3, 2017 11:46pm | Edited Mar 4, 2017 1:21am
Quoting heispark
Thank you Expo for sharing your knowledge. Do you find wolfwave has better edge over other harmonic animals? Do you use wolfwave exclusively? Thanks.
I wouldn't say definitively that WWs are better, but they are certainly less complex. I am a true believer in all harmonic patterns. I just gravitated towards the WWs because of the simplicity. I got tired of being "mediocre" at many things and started to focus on being very good at one thing.

I'd say 80% of my trades are WWs. I always have about 20% set aside for long term trades (3-12 months) based on some fundamental scenario.
Pride always comes before destruction.... -Proverbs 16:18
  • #22
  • Mar 4, 2017 12:45am Mar 4, 2017 12:45am
Quoting Expo33
Remember, we aren't trying to move mountains here, or predict some great shift in sentiment, or predict what some OPEC mouthpiece is going to say or do. All we are doing is preparing the playing field in advance so that when the time comes, we will be ready to take action. Not only will we be ready to take action, we will know exactly where to take the action. So go ahead and..............MAP IT OUT!! WTI CRUDE 15MIN CCW {image} This chart is self explanatory. All of our levels are right in front of our eyes. Previous S/R tells us that there is...

Hi Expo33, thank you for sharing and to let me discover the Wolfe Waves
found below your previous chart as sample, i would like to know how did you choose your exact entry until you got some reaction on your predict reversal point, engulfing, break of a previous S/R ? you could also found on my UJ sample an idea for entry with the break of a TL above CD.
Please also found a sample on 5m chart on UJ, do you this analyse correct ? one more time i just discover your thread and the wolfe waves

Regards and stay green
Ockham
Attached Image(s) (click to enlarge)
Click to Enlarge Name: OIL15MIN_mod.jpg Size: 357 KB
Click to Enlarge Name: UJ waves.jpg Size: 530 KB
There is no way to happiness , happiness is the way.
  • #23
  • Edited 1:54am Mar 4, 2017 1:35am | Edited 1:54am
Quoting Ockham
{quote} Hi Expo33, thank you for sharing and to let me discover the Wolfe Waves found below your previous chart as sample, i would like to know how did you choose your exact entry until you got some reaction on your predict reversal point, engulfing, break of a previous S/R ? you could also found on my UJ sample an idea for entry with the break of a TL above CD. Please also found a sample on 5m chart on UJ, do you this analyse correct ? one more time i just discover your thread and the wolfe waves Regards and...
If I understand your first question correctly, I will enter the trade without waiting to see if there is any reversal. I'm assuming in advance, based on the WW structure, AB=CD completion, and the previous S/R that there WILL be a reaction at the price I have marked.

I know most traders would rather wait to see a reversal get started. Many times price will bounce off the preset level then retest that level. If I wait for price to bounce 10 pips now my SL will have to be 20 pips. If price eventually break through and continues higher, I have basically doubled my loss. I'd rather enter first with the 10 pip SL rather than wait for any confirmation. In essence, for me, the conformation IS the Wolfe wave itself coupled with all of the other layers of confluence.

Im not sure if that answers your question.

The UJ set up is not a valid WW because line XB does not converge with line AC (refer to the diagram posted on page one). Even if it was, I would rather stay away from that potential set up anyways. Terrible symmetry, large re trace before leg D completes, just doesn't fit any of the valid WW structure

Anyways, thanks for the post.

A little friendly advice. That PVSRA chart and system is a work of art. I have read thru a lot of Cigarguy's posts, excellent trader with a great system. But for our purposes here, it is best to start with a naked chart. The only thing on my chart initially is the price and the zigzag. Then just map it out. After enough practice you'll see right away that a certain pattern doesn't fit the WW structure
Pride always comes before destruction.... -Proverbs 16:18
  • #24
  • Mar 4, 2017 1:58am Mar 4, 2017 1:58am
When I put the indicators and template it's not showing the wolfe wave detected. Pls explain if am doing something wrong
  • #25
  • Mar 4, 2017 2:09am Mar 4, 2017 2:09am
its only a zig zag . You have to look for them yourself.
Everyday better.
  • #26
  • Mar 4, 2017 2:15am Mar 4, 2017 2:15am
Quoting Expo33
{quote} If I understand your first question correctly, I will enter the trade without waiting to see if there is any reversal. I'm assuming in advance, based on the WW structure, AB=CD completion, and the previous S/R that there WILL be a reaction at the price I have marked. I know most traders would rather wait to see a reversal get started. Many times price will bounce off the preset level then retest that level. If I wait for price to bounce 10 pips now my SL will have to be 20 pips. If price eventually break through and continues higher, I have...
Thank you for answer, ok i understand your entry now, to catch better RR with tight stop loss which sound good as for a scalper !
Arf i missed the point of XB and AC have to converge read to quickly, my bad. For pvsra i effectively just scalping CigarGuy system and i'm still looking to improve with other compatible system that wave wolfe seems to be, i will follow your advice and open a second naked chart with just the zigzag on higher TF,probably m15, to try to learn wave wolfe, thank you for advice, subscribed
There is no way to happiness , happiness is the way.
  • #27
  • Mar 4, 2017 2:51am Mar 4, 2017 2:51am
Quoting Ockham
{quote} Thank you for answer, ok i understand your entry now, to catch better RR with tight stop loss which sound good as for a scalper ! Arf i missed the point of XB and AC have to converge read to quickly, my bad. For pvsra i effectively just scalping CigarGuy system and i'm still looking to improve with other compatible system that wave wolfe seems to be, i will follow your advice and open a second naked chart with just the zigzag on higher TF,probably m15, to try to learn wave wolfe, thank you for advice, subscribed
You're welcome friend. Good weekend
Pride always comes before destruction.... -Proverbs 16:18
  • #28
  • Mar 4, 2017 2:58am Mar 4, 2017 2:58am
Quoting Expo33
{quote} You're welcome friend. Good weekend
Expo or anybody. Help me pls. Since I am new and haven't read yet the full description of WW. Here is 4 hrs GBPNZD chart.

1. Is this Bullish or Bearish Wave?
2. Do I long or short?
3. Where is my point of entry?
4. Where is my TP and SL.?

Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: GN 4Mar2017.jpg Size: 96 KB
  • #29
  • Mar 4, 2017 3:09am Mar 4, 2017 3:09am
In order to get better at understanding of what works, it's important to look at what doesn't work.

Three reasons NOT to take this trade

1) No symmetry at all
2) No previous S/R confluence
3) AB=CD completion with no FIB confluence

Right off the bat you can see AB moves 124 pips in 2 candles while CD just plods along actually bouncing off the trend line for like 50 candles to make it's 124 pips to completion. When it reaches completion, you see a little congestion, then ultimately price breaks thru 50 pips higher, far to much for a SL on 30 minutes.

In addition, just look at how the zig zag is moving. Its all over the place. There is nothing harmonic about the price action on the entire chart.

EUR/CAD 30MIN CWW
Attached Image (click to enlarge)
Click to Enlarge Name: ECAD WWFAIL.png Size: 73 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #30
  • Mar 4, 2017 3:20am Mar 4, 2017 3:20am
Same questions to anybody. This is EU 4HR chart.


1. Is this Bullish or Bearish Wave?
2. Do I long or short?
3. Where is my point of entry?
4. Where is my TP and SL.?

Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 4Mar2017.jpg Size: 95 KB
  • #31
  • Mar 4, 2017 3:46am Mar 4, 2017 3:46am
Quoting frx_trader
Same questions to anybody. This is EU 4HR chart. 1. Is this Bullish or Bearish Wave? 2. Do I long or short? 3. Where is my point of entry? 4. Where is my TP and SL.? Thank you. {image}
It would be helpful if you at least point an "X" on your chart to show where the wave starts.

The first GN chart is not a valid WW. I'm not even sure what is going on there.

The second EU chart was valid to start but price never reached the XB trend line or sweet zone so point D never happened. As it stands, it ended up being a double bottom. Also, you didn't draw XB properly. You cant draw your trend line form X and cut thru price at B. It is imperative that you are diligent and draw your lines from low point to low point exactly.

With all due respect, I would suggest you go back and look at the Classic Wolfe wave diagram on post #1 and then look at all of the valid examples here that have been posted. You'll need to train your mind to see the patterns and then draw them correctly. Trading is hard my friend. We can't teach you to run if you aren't willing to walk
Pride always comes before destruction.... -Proverbs 16:18
  • #32
  • Mar 4, 2017 3:50am Mar 4, 2017 3:50am
Quoting Expo33
{quote} It would be helpful if you at least point an "X" on your chart to show where the wave starts. The first GN chart is not a valid WW. I'm not even sure what is going on there. The second EU chart was valid to start but price never reached the XB trend line or sweet zone so point D never happened. As it stands, it ended up being a double bottom. Also, you didn't draw XB properly. You cant draw your trend line form X and cut thru price at B. It is imperative that you are diligent and draw your lines from low point to low point exactly. With...
Points taken. Thank you.
  • #33
  • Mar 4, 2017 5:30am Mar 4, 2017 5:30am
It seems WW is used to expect a reversal bid. A lot of price patterns, wave patterns are used for reversal trade.

What is successful rate for WW set up?

Is this WW a similar to 3 drive pattern?
  • #34
  • Mar 4, 2017 5:48am Mar 4, 2017 5:48am
hi, good thread. thought may add 10c worth... as i have been using the classic 1-6 pattern for a couple of years now as part of the toolkit. They are very powerful, and WW help ascertain which swing you are trading, which is of upmost importance. Just take your time if your new, make sure you dont imagine things, found them to be never really textbook perfect, double, triple, tops and bottoms, timeframes etc... sometimes you might not see them until after the fact.. experience !
  • #35
  • Mar 4, 2017 5:49am Mar 4, 2017 5:49am
Quoting frx_trader
Same questions to anybody. This is EU 4HR chart. 1. Is this Bullish or Bearish Wave? 2. Do I long or short? 3. Where is my point of entry? 4. Where is my TP and SL.? Thank you. {image}
what do you see?
mark it up
  • #36
  • Mar 4, 2017 6:07am Mar 4, 2017 6:07am
PZ Wolfwave
Attached File(s)
File Type: ex4 PZ_WolfeWaves.ex4   12 KB | 2,127 downloads

Inserted Video
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #37
  • Mar 4, 2017 6:10am Mar 4, 2017 6:10am
Inserted Video
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #38
  • Edited 8:19am Mar 4, 2017 6:55am | Edited 8:19am
Hello, I am a new member in this forum. This my first contribution.
EURJPY daily chart.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-03-04 15.03.02.png Size: 8 KB
  • #39
  • Mar 4, 2017 6:57am Mar 4, 2017 6:57am
Quoting shagrz
{quote} what do you see? mark it up
I ask the question.
  • #40
  • Edited 7:08pm Mar 4, 2017 7:07am | Edited 7:08pm
Quoting heispark
https://youtu.be/ygGDIhZYnnk
I don't think the two videos you uploaded are covering the same WWs as we are looking to trade here, most of the ones in the videos doesn't have symmetry between AB and CD nor do they have converging trendlines.
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