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Wolfe Waves - Get in the Zone

  • #121
  • Mar 6, 2017 2:07pm Mar 6, 2017 2:07pm
Quoting Expo33
Mapped out and ready AUD/CAD 30MIN CWW {image}
Mapped out and ready!
  • #122
  • Mar 6, 2017 4:32pm Mar 6, 2017 4:32pm
First let me preface by stating that I took Bill Wolfe's course,
was trained by him in the methodology, and have corresponded
with him regarding setups. I do not mean to rain on anyone's
parade, but many of the charts being offered here as Wolfe Waves
are the farthest thing from them. If the "Street Smarts" book, or
a knock-off website is your only exposure to this setup, then it is
very unlikely that you are trading Wolfe Waves properly. And over
the long haul, your results will bear this out.
  • #123
  • Mar 6, 2017 5:36pm Mar 6, 2017 5:36pm
Quoting classy
{quote} thanks a lot for reply.do you use pz wolfwave ? it is not like vidos indi or problem in my mt4?no solid pattern just lines? 3 pz indicator match nicely {image}
I guess this version is slightly different from commercial version...
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #124
  • Mar 6, 2017 6:14pm Mar 6, 2017 6:14pm
Two trades triggered today. So far, both have survived the initial momentum surge.

USD/CHF 15MIN CWW
Attached Image (click to enlarge)
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USD/JPY 15MIN CWW
Attached Image (click to enlarge)
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Pride always comes before destruction.... -Proverbs 16:18
  • #125
  • Mar 6, 2017 6:34pm Mar 6, 2017 6:34pm
Quoting alkemi
First let me preface by stating that I took Bill Wolfe's course, was trained by him in the methodology, and have corresponded with him regarding setups. I do not mean to rain on anyone's parade, but many of the charts being offered here as Wolfe Waves are the farthest thing from them. If the "Street Smarts" book, or a knock-off website is your only exposure to this setup, then it is very unlikely that you are trading Wolfe Waves properly. And over the long haul, your results will bear this out.
I think we have alerted any posters that have posted charts that don't meet the requirements of the basic Wolfe wave structure. This is a thread for anyone, so stands to reason there will be a lot of confusion for anyone new to WWs
Pride always comes before destruction.... -Proverbs 16:18
  • #126
  • Mar 6, 2017 8:19pm Mar 6, 2017 8:19pm
GBPJPY 5 min setup:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-03-07 at 03.18.52.png Size: 66 KB
  • #127
  • Mar 7, 2017 1:07am Mar 7, 2017 1:07am
Entry at AB=CD with previous S/R as a filter

AUD/CAD 1H CWW
Attached Image (click to enlarge)
Click to Enlarge Name: AC.png Size: 78 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #128
  • Mar 7, 2017 1:17am Mar 7, 2017 1:17am
Quoting Expo33
Entry at AB=CD with previous S/R as a filter AUD/CAD 1H CWW {image}
what about the previous wolfe wave here? Was it a good setup? The only problem is where do we enter? On the touch of 1.41 or 1.61? Or wait for tdi cross, wait for reversal bars confirmation?
Attached Image (click to enlarge)
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  • #129
  • Mar 7, 2017 1:31am Mar 7, 2017 1:31am
euro in setup
Attached Image (click to enlarge)
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  • #130
  • Edited 2:19am Mar 7, 2017 2:07am | Edited 2:19am
interesting topic,
but I tried the template and the zigzag doesn't look as yours
is there a specific setting for it
that's my chart
Attached Image (click to enlarge)
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  • #131
  • Mar 7, 2017 2:13am Mar 7, 2017 2:13am
Quoting alkemi
First let me preface by stating that I took Bill Wolfe's course, was trained by him in the methodology, and have corresponded with him regarding setups. I do not mean to rain on anyone's parade, but many of the charts being offered here as Wolfe Waves are the farthest thing from them. If the "Street Smarts" book, or a knock-off website is your only exposure to this setup, then it is very unlikely that you are trading Wolfe Waves properly. And over the long haul, your results will bear this out.
So, in the interests of open discussion and education, what would you say are the problems with the Wolf Waves being shown here and the real deal? I'm sure everyone viewing this thread would be most interested in whatever constructive input you can provide.
Thanks
  • #132
  • Mar 7, 2017 2:22am Mar 7, 2017 2:22am
Quoting CrocodileRex
{quote} what about the previous wolfe wave here? Was it a good setup? The only problem is where do we enter? On the touch of 1.41 or 1.61? Or wait for tdi cross, wait for reversal bars confirmation? {image}
Conventional wisdom says wait for the TDI cross then put your stop above the original price spike. I do that sometimes, but usually I am entering as price hits my predetermined zone.

I am trying to get more bang for my buck out of the entry (closer to the ultimate spike). In this case price only advanced 11 pips past the AB=CD level, not bad for an hourly set up. Waiting for the TDI cross is fine, you'll just have to decide if you want your SL to be above the last printed candle or much higher above the original price spike, which in the is case over 20 pips.

Once you get more confidence in the structure and set up, you will start to get more comfortable with the entry. A lot depends on your risk management profile. Either way, its important to know what SL level is going to give your trade reasonable breathing room without exposing yourself to too much risk.
.
Pride always comes before destruction.... -Proverbs 16:18
  • #133
  • Mar 7, 2017 2:30am Mar 7, 2017 2:30am
Quoting Expo33
{quote} Conventional wisdom says wait for the TDI cross then put your stop above the original price spike. I do that sometimes, but usually I am entering as price hits my predetermined zone. I am trying to get more bang for my buck out of the entry (closer to the ultimate spike). In this case price only advanced 11 pips past the AB=CD level, not bad for an hourly set up. Waiting for the TDI cross is fine, you'll just have to decide if you want your SL to be above the last printed candle or much higher above the original price spike, which in the...
True. Right now, i am just using 1:1 for my wolfe wave entries. I found out that the EPA is not always accurate like the one audcad 1hour setup. It was good for when the AC trendline touches back but not until the EPA. Anyway, i'm satisfied if every setup can get the price go to AC or line 24.
  • #134
  • Mar 7, 2017 2:31am Mar 7, 2017 2:31am
Quoting CrocodileRex
euro in setup {image}
In my opinion, you're using the wrong starting point for "X"

Refer to the chart below. A very nice set up with excellent symmetry. Trade would have been triggered with an 8 pip bounce down from entry. That is exactly what we are looking for. This gives us the option of moving the SL to BE for a free trade. Either nothing or 20-25 pips in the green. I like that option. Of course, you can always leave the initial SL in place and ride it out.

EUR/USD 15MIN CWW
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 66 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #135
  • Mar 7, 2017 2:39am Mar 7, 2017 2:39am
Quoting CrocodileRex
{quote} True. Right now, i am just using 1:1 for my wolfe wave entries. I found out that the EPA is not always accurate like the one audcad 1hour setup. It was good for when the AC trendline touches back but not until the EPA. Anyway, i'm satisfied if every setup can get the price go to AC or line 24.
I don't use the EPA. I don't think many traders do.

On smaller time frames I am trying to get my TP at least back to level C. That will give me at least 2:1 RR. On higher time frames I tend to scale out along the way as the diagram shows in post #1.

Working a demo acct on this is a great way to see what works. You just have to be diligent in sticking to a risk management profile to make it a better simulation to real money trades. Of course, nothing can simulate the emotions of live trading
Pride always comes before destruction.... -Proverbs 16:18
  • #136
  • Mar 7, 2017 2:47am Mar 7, 2017 2:47am
Quoting CrocodileRex
euro in setup {image}
may be not a perfect one but still in as well
Attached Image (click to enlarge)
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There is no way to happiness , happiness is the way.
  • #137
  • Mar 7, 2017 2:54am Mar 7, 2017 2:54am
By the way for those of you using the news calendar in the template, it stopped working, so I'm looking for a new one and will update post #1 soon
Pride always comes before destruction.... -Proverbs 16:18
  • #138
  • Mar 7, 2017 2:58am Mar 7, 2017 2:58am
Quoting Ockham
{quote} may be not a perfect one but still in as well {image}
it's actually quite a nice setup. My original stoploss was 12 pips but i got impatient and got out at +11. Good luck guys for those who are still in.
  • #139
  • Mar 7, 2017 3:18am Mar 7, 2017 3:18am
Quoting CrocodileRex
{quote} it's actually quite a nice setup. My original stoploss was 12 pips but i got impatient and got out at +11. Good luck guys for those who are still in.

for my 1st attempt i decided to go out on C level +19.9, also forgot to draw the fibo which gives nice entry @1,168% as others mentioned already.
Have to work on set up, MM and RR but seems promising
Attached Image (click to enlarge)
Click to Enlarge Name: Capture d’écran 2017-03-07 à 10.09.35.png Size: 83 KB
There is no way to happiness , happiness is the way.
  • #140
  • Mar 7, 2017 3:21am Mar 7, 2017 3:21am
Quoting Expo33
By the way for those of you using the news calendar in the template, it stopped working, so I'm looking for a new one and will update post #1 soon
this one always works great for me if you want to try, also add a trade level if someone is interesting.
Attached File(s)
File Type: ex4 1) PVSRA Trade Levels (Black).ex4   76 KB | 747 downloads
File Type: ex4 3) PVSRA News Panel (Black).ex4   86 KB | 664 downloads
There is no way to happiness , happiness is the way.
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