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Wolfe Waves - Get in the Zone

  • #161
  • Mar 7, 2017 2:45am Mar 7, 2017 2:45am
Quoting Krossaren96
{quote} I see, I will most likely just divide the area from X to entry in 3 equal parts and put some profit at each one of them, see picture (green lines) {image}
Your x-leg here is also not visible? It's very close to your B or 3 leg.
  • #162
  • Mar 7, 2017 2:51am Mar 7, 2017 2:51am
Quoting Krossaren96
{quote} I see, I will most likely just divide the area from X to entry in 3 equal parts and put some profit at each one of them, see picture (green lines) {image}
Trading view is the most amazing platform for our king of technical analyse, you probably notice that there is also an xabcd tools !

nice set up btw, missed it, but gl for your trade mate.
Attached Image (click to enlarge)
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There is no way to happiness , happiness is the way.
  • #163
  • Mar 7, 2017 2:52am Mar 7, 2017 2:52am
Quoting Ockham
{quote} yes well pointed there is also no convergence with AC XB, my bad
That's why me map it out first and post it, more eyes looking to keep us all learning and moving forward
Pride always comes before destruction.... -Proverbs 16:18
  • #164
  • Mar 7, 2017 2:52am Mar 7, 2017 2:52am
Quoting CrocodileRex
{quote} Your x-leg here is also not visible? It's very close to your B or 3 leg.
Sorry, I was lazy and didn't mark it out. Yes it is, but still the B leg is above the X.
  • #165
  • Mar 7, 2017 2:56am Mar 7, 2017 2:56am
Quoting Ockham
{quote} Trading view is the most amazing platform for our king of technical analyse, you probably notice that there is also an xabcd tools ! nice set up btw, missed it, but gl for your trade mate. {image}
Yup, that's a work of art right there, beautiful. As I stated in the beginning, Wolfe waves are often the end points of larger harmonic structures.
Pride always comes before destruction.... -Proverbs 16:18
  • #166
  • Mar 7, 2017 3:08am Mar 7, 2017 3:08am
Expo have you ever tried to take profit when the TDI crosses back up again?
  • #167
  • Mar 7, 2017 3:24am Mar 7, 2017 3:24am
Quoting Krossaren96
Expo have you ever tried to take profit when the TDI crosses back up again?
No I haven't. On bigger time frames the trade could be back to BE by the time the cross happens anyways. Just look at my AUD/CAD trade as it reverses here for a bit. trade might even be in the red when TDI crosses back
Pride always comes before destruction.... -Proverbs 16:18
  • #168
  • Mar 7, 2017 3:25am Mar 7, 2017 3:25am
Scaled out on the way up but ultimately price reached the target line. This is why we play the game....260 pip move

EUR/GBP DAILY CWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #169
  • Mar 7, 2017 3:48am Mar 7, 2017 3:48am
Been stalking this one since last week. Don't know if we will make it to completion here, anther 120 pips to go. Ready and waiting to start scaling in at the 161FIB

GBP/JPY DAILY CWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #170
  • Edited 4:07am Mar 7, 2017 3:50am | Edited 4:07am
Using this strategy must be great in a trend. Look at the chart below. The blue lines show an outzoomed wolfe wave. Look at the big bearish trend continuing right when the pattern hits the sweet zone. Thinking about only trading them in line with the higher timeframe's trend... That way we can aim for a much higher RR.

Update: Added the second chart as one more example. USDJPY trade from last friday. We would already be in about 1:5 (and that is when using the TDI cross when entering!), aiming for about 1:8 due to previous structure.

Update 2: One more. The EURNZD chart I uploaded a couple of hours ago. Will move my stops to BE after 1:2 RR has been hit and then let the whole position run. I think we get more than enough setups to filter them using trend. Just 1 trade per day is more than enough.
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  • #171
  • Mar 7, 2017 4:06am Mar 7, 2017 4:06am
Quoting Krossaren96
Using this strategy must be great in a trend. Look at the chart below. The blue lines show an outzoomed wolfe wave. Look at the big bearish trend continuing right when the pattern hits the sweet zone. Thinking about only trading them in line with the higher timeframe's trend... That way we can aim for a much higher RR. Update: Added the second chart as one more example. USDJPY trade from last friday. We would already be in about 1:5 (and that is when using the TDI cross when entering!), aiming for about 1:8 due to previous structure. {image} {image}...
Absolutely. The possibilities are only limited by our imaginations.

You can also use the TDI green as a divergence tool. Notice the hidden divergence on that GBP/USD set up. Would have been a nice filter for some extra confidence for the entry.
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Pride always comes before destruction.... -Proverbs 16:18
  • #172
  • Edited 4:27am Mar 7, 2017 4:11am | Edited 4:27am
Quoting Expo33
{quote} Absolutely. The possibilities are only limited by our imaginations. You can also use the TDI green as a divergence tool. Notice the hidden divergence on that GBP/USD set up. Would have been a nice filter for some extra confidence for the entry. {image}
Great input! Yeah that would have given us some confluence on the higher timeframe as well which is always good. Also, trading with the trend is a great situation to take partial profits in.

Loving this thread, keep up the good work everyone!

There was TDI confluence on my EURNZD trade as well! Also big pinbar only 1.5 hours from printing, good days.

Edit: Can we only use the green TDI line for divergence? If so, why?
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  • #173
  • Mar 7, 2017 4:25am Mar 7, 2017 4:25am
Quoting Expo33
Been stalking this one since last week. Don't know if we will make it to completion here, anther 120 pips to go. Ready and waiting to start scaling in at the 161FIB GBP/JPY DAILY CWW {image}
Hi,

Great thread. Keep on alive.

Just a question. Do you use standard setting for the ZIGZAGPIPS indicator? I put your template on GBPJPY daily chart and doesn't appears the last wave lines...


thank you
TONI
  • #174
  • Mar 7, 2017 4:30am Mar 7, 2017 4:30am
Quoting forexdaist
{quote} Hi, Great thread. Keep on alive. Just a question. Do you use standard setting for the ZIGZAGPIPS indicator? I put your template on GBPJPY daily chart and doesn't appears the last wave lines... thank you TONI
Thank you Toni.

You can change the input setting on the "Extdepth" to show smaller waves. Sometimes you can't get the exact waves. In that case I just draw them manually and calculate the ABCD manually as well.

I had "Extdepth" on 3 for that chart

Cheers
Attached Image
Pride always comes before destruction.... -Proverbs 16:18
  • #175
  • Mar 7, 2017 4:37am Mar 7, 2017 4:37am
Quoting Krossaren96
{quote} Great input! Yeah that would have given us some confluence on the higher timeframe as well which is always good. Also, trading with the trend is a great situation to take partial profits in. Loving this thread, keep up the good work everyone! There was TDI confluence on my EURNZD trade as well! Also big pinbar only 1.5 hours from printing, good days. Edit: Can we only use the green TDI line for divergence? If so, why? {image}
As I understand it, the TDI green is basically the same as the RSI on setting 13. See chart below for comparison
Attached Image (click to enlarge)
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Pride always comes before destruction.... -Proverbs 16:18
  • #176
  • Mar 7, 2017 4:54am Mar 7, 2017 4:54am
Quoting Expo33
{quote} As I understand it, the TDI green is basically the same as the RSI on setting 13. See chart below for comparison {image}
Ahh I see, fair enough
  • #177
  • Mar 7, 2017 5:13am Mar 7, 2017 5:13am
Awesome thread guys. I have been following for a couple of days, but just signed up to participate.

I have a question though. Do price have to enter the sweet zone in order to present an entry? What if price bounces on the top of the sweet zone?

For instance in the setup attached below. Btw, please do tell if the setup is off.

Attached Image (click to enlarge)
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  • #178
  • Mar 7, 2017 6:23am Mar 7, 2017 6:23am
Not perfect due to the fib being a bit off but still fine:
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  • #179
  • Mar 7, 2017 7:19am Mar 7, 2017 7:19am
nzd/usd setup
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  • #180
  • Mar 7, 2017 9:04am Mar 7, 2017 9:04am
Expo33,

Would you give me a synopsis of the process you go through finding you WW setups.
Do you have multiple charts open on you MT4? Do you start with one time frame
and move to a larger or smaller time frame based on what you observe? How many
pairs do you concentrate on? Periodically do you open up each chart to observe the
potential WW formation? I know I have asked alot. I am just trying to get an
understanding how to find the setups. Thank you.

Alan
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