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Wolfe Waves - Get in the Zone

  • #221
  • Mar 8, 2017 1:49am Mar 8, 2017 1:49am
EURJPY 4H chart. Mid-way through the final move maybe
  • #222
  • Mar 8, 2017 1:55am Mar 8, 2017 1:55am
Quoting Expo33
Mapped, stalked and triggered. Scaled in a little early as this was a steep sweet zone AUD/CHF 30MIN CWW {image}
Hello everyone
I have one question
why you set SL here ?
  • #223
  • Mar 8, 2017 1:58am Mar 8, 2017 1:58am
Quoting settavut0
{quote} Hello everyone I have one question why you set SL here ?
The SL is on the chart.
Pride always comes before destruction.... -Proverbs 16:18
  • #224
  • Mar 8, 2017 1:58am Mar 8, 2017 1:58am
my nzd/usd took profit for half position and the other half stopped out at b/e. Still don't know how to manage the positions here.

Am in at aud/chf also but didn't look so good. Stoploss was almost reached. We'll see.

u/cad was nice expo33. I didn't manage to catch it. Please post next time if you see any setup yeah?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: audchf-m30-international-capital-markets.png Size: 56 KB
  • #225
  • Mar 8, 2017 2:10am Mar 8, 2017 2:10am
Quoting CrocodileRex
my nzd/usd took profit for half position and the other half stopped out at b/e. Still don't know how to manage the positions here. Am in at aud/chf also but didn't look so good. Stoploss was almost reached. We'll see. u/cad was nice expo33. I didn't manage to catch it. Please post next time if you see any setup yeah? {image} {image}
Good move on the Kiwi trade. I did the same. These trades sometimes are like scalps. A nice 20 pip bounce, take some profit, move SL to BE and then hope for the home run to the target line.

Same deal on AUD/CHF. Weathered the initial momentum past the AB=CD level. Just looking for that 20 pip bounce then micro management.

Yea I had the UCAD all mapped out but got tied up on the phone. Then my 5 year old woke up and needed daddy time so I never got it posted before it triggered.

Anyways, I think you're managing very well, kind of the same thought process I have. Very conservative. We don't need a home run every time to make this business become very lucrative. For me 30 pips a day is more than enough.
Pride always comes before destruction.... -Proverbs 16:18
  • #226
  • Mar 8, 2017 2:26am Mar 8, 2017 2:26am
Missed this eur/nzd trade. To the pip short at 1.27. Good for 35-40 pips. I found out that taking the first retrace at 1.27 or 1.41 is usually best. Like the u/cad trade right now. Would not short anymore since the pair moved more than 10pips already.

It's easier to see in hindsight though.
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd-m15-international-capital-markets.png Size: 53 KB
  • #227
  • Edited 2:54am Mar 8, 2017 2:40am | Edited 2:54am
Quoting CrocodileRex
Missed this eur/nzd trade. To the pip short at 1.27. Good for 35-40 pips. I found out that taking the first retrace at 1.27 or 1.41 is usually best. Like the u/cad trade right now. Would not short anymore since the pair moved more than 10pips already. It's easier to see in hindsight though. {image}
That one is closer to an AWW (anti Wolfe wave) which we haven't really gotten into yet. Looks like XB and AC are a degree or 2 from converging so a slightly expanding wave, still works well though.

Same principle but the sweet zone in reverse sort of speak. Entry is usually right at the parallel extension line or a little bit past it and it usually falls on the 113 or 127 just because the nature of the expanding wave structure

Here is a home run example

EUR/USD 4H AWW
Attached Image (click to enlarge)
Click to Enlarge Name: PERFECT EXPO WAVE EU 4H.png Size: 64 KB


Another example of an anti Wolfe wave, a home run too (hindsight home runs are easy)

NZD/USD 4H AWW
Attached Image (click to enlarge)
Click to Enlarge Name: NU.png Size: 67 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #228
  • Mar 8, 2017 2:58am Mar 8, 2017 2:58am
Quoting Expo33
{quote} That one is closer to an AWW (anti Wolfe wave) which we haven't really gotten into yet. Looks like XB and AC are a degree or 2 from converging so a slightly expanding wave, still works well though. Same principle but the sweet zone in reverse sort of speak. Entry is usually right at the parallel extension line or a little bit past it and it usually falls on the 113 or 127 just because the nature of the expanding wave structure Here is a home run example EUR/USD 4H AWW {image} Another example of an anti Wolfe wave, a home run too (hindsight...
so, anti wolfe wave is basically XB and AC converging in a very small degree? I mean, if you drag it out to monthly timeframe, they do converge eventually.

I see not much difference there as long as X is in the middle of B and C, i think it's a go? I am actually more focused on the fibo ratio of 1.27 ti 1.61.
  • #229
  • Mar 8, 2017 3:16am Mar 8, 2017 3:16am
Quoting Expo33
{quote} Good move on the Kiwi trade. I did the same. These trades sometimes are like scalps. A nice 20 pip bounce, take some profit, move SL to BE and then hope for the home run to the target line. Same deal on AUD/CHF. Weathered the initial momentum past the AB=CD level. Just looking for that 20 pip bounce then micro management. Yea I had the UCAD all mapped out but got tied up on the phone. Then my 5 year old woke up and needed daddy time so I never got it posted before it triggered. Anyways, I think you're managing very well, kind of the same...
Not completely agree with this, will try to explain with my poor English, drawing complex tool like ab=cd to catch 10-20% of the move is a little bit pity imho, that also mean that your 30 pips profit are with larger lot (with or without leverage) but it require perfect entries that is difficult with the sweet zone, also with this kind of strategy your R:R is becoming in the best case at 1:1 and will loose the benefit of ab=cd, you will in this case found better scalping system that will give you 30 pips /day stress free.

But may be we could have the best of the 2 world as crocodileRex mentioned previously a difficult part is to manage the trade, since we enter short at for example 161.80% we already know that first support we will found are xb line, later B horizontal line X level etc....
My idea is when i enter on fibo % i already prepare to tp may be 80% +be at xb line if price reacted as reversal what about using a sell stop 2 pips below this new Low ? the stop loss will be also differents than the 1st trade because we have new Lower High. This could be repeat to the next support level B, hope i was clear, will join a charts with description if you are interested, just my 2cents.
There is no way to happiness , happiness is the way.
  • #230
  • Mar 8, 2017 3:28am Mar 8, 2017 3:28am
Attached Image (click to enlarge)
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  • #231
  • Mar 8, 2017 3:30am Mar 8, 2017 3:30am
Quoting CrocodileRex
{quote} so, anti wolfe wave is basically XB and AC converging in a very small degree? I mean, if you drag it out to monthly timeframe, they do converge eventually. I see not much difference there as long as X is in the middle of B and C, i think it's a go? I am actually more focused on the fibo ratio of 1.27 ti 1.61.
Same structure as far as higher highs, higher lows as in the examples I posted except on the Anti Wolfe wave XB and AC NEVER converge. Look at the examples I posted, XB is the red line at the top
Pride always comes before destruction.... -Proverbs 16:18
  • #232
  • Edited 4:03am Mar 8, 2017 3:47am | Edited 4:03am
Quoting Ockham
{quote} Not completely agree with this, will try to explain with my poor English, drawing complex tool like ab=cd to catch 10-20% of the move is a little bit pity imho, that also mean that your 30 pips profit are with larger lot (with or without leverage) but it require perfect entries that is difficult with the sweet zone, also with this kind of strategy your R:R is becoming in the best case at 1:1 and will loose the benefit of ab=cd, you will in this case found better scalping system that will give you 30 pips /day stress free. But may be we could...
All we are doing is taking partial profits and moving SL to BE for the rest of the positions. Over time averaging in trades that make the target line the risk reward is much higher than 1:1

TP strategy and RR scenarios vary from trader to trader depending on your risk profile, acct size, etc etc

In that Kiwi trade we take 20 pips on 1/3 to 1/2 of our position. If we didn't, we incur the full loss of all positions as the trade reversed and moved below our initial SLs.

If finding stress free scalp systems that made 30 pips easy a day then we'd all be able to start with a 2k acct and be millionaires in a couple of years

But hey, you have to do what works for you
Pride always comes before destruction.... -Proverbs 16:18
  • #233
  • Mar 8, 2017 3:52am Mar 8, 2017 3:52am
Quoting sailingboat
{image}
Perfect! I like your SL and target too.

Just a thought. The AB=CD completion is about 5 pips short of the 161FIB. Higher time frames especially, I would break my total risk amount up and scale in with 3 positions starting at the 141FIB and ending at the 161FIB, kind of like dollar cost averaging. There is about 20 pips between those two levels so every 6 or 7 pips another position. Gives you a better total buy in price and lessens your risk. The down side is price may reverse before the 161FIB and your total position would be smaller. If the trade ended up a winner, then you'd make less
Pride always comes before destruction.... -Proverbs 16:18
  • #234
  • Mar 8, 2017 4:04am Mar 8, 2017 4:04am
Thanks
Quoting Expo33
{quote} Perfect! I like your SL and target too. Just a thought. The AB=CD completion is about 5 pips short of the 161FIB. Higher time frames especially, I would break my total risk amount up and scale in with 3 positions starting at the 141FIB and ending at the 161FIB, kind of like dollar cost averaging. There is about 20 pips between those two levels so every 6 or 7 pips another position. Gives you a better total buy in price and lessens your risk. The down side is price may reverse before the 161FIB and your total position would be smaller. If...
  • #235
  • Mar 8, 2017 4:33am Mar 8, 2017 4:33am
Not sure how I missed this home run. Must have forgotten to scan oil yesterday.

WTI CRUDE 1H CWW
Attached Image (click to enlarge)
Click to Enlarge Name: oil.png Size: 79 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #236
  • Edited 10:16am Mar 8, 2017 9:18am | Edited 10:16am
Shorted this 1-min wolfe wave a couple of minutes ago, currently at 1:1 RR. Stoploss is on the chart and reward is at 1:10RR. The trend on the GBPUSD is very bearish, hence the big RR. 5 pips stoploss, 50 tp, let's hope it works The 1-min is not my favorite timeframe but as hitting a 1:10RR on a 30-min chart or higher will take days or even weeks I am looking to get more familiar with the lowest timeframes.

I would love it if you guys could upload any wolfe waves (that haven't completed yet) that you find on the 1-15 min chart as I am going to do some statistics on these patterns on the low timeframes and it will be faster if I get some help. Thanks!

Edit: Stopped out for -1%.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-03-08 at 18.14.38.png Size: 58 KB
  • #237
  • Mar 8, 2017 9:39am Mar 8, 2017 9:39am
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFM15.png Size: 64 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 60 KB
  • #238
  • Mar 8, 2017 1:08pm Mar 8, 2017 1:08pm
Hi, im new to this thread. I spotted this set up on GBPAUD. Any thoughts?

I threw in hidden divergence just for the heck of it *lol
Attached Image (click to enlarge)
Click to Enlarge Name: download (1).png Size: 98 KB
  • #239
  • Mar 8, 2017 1:33pm Mar 8, 2017 1:33pm
Quoting BataviaTrade
Hi, im new to this thread. I spotted this set up on GBPAUD. Any thoughts? I threw in hidden divergence just for the heck of it *lol {image}
It's good except for the part that the trendlines need to be going in the same direction. So the lower trendline should face downwards!

(Which isn't possible in your setup, meaning that it is an invalid Classic WW)
  • #240
  • Mar 8, 2017 1:40pm Mar 8, 2017 1:40pm
Quoting Krossaren96
{quote} It's good except for the part that the trendlines need to be going in the same direction. So the lower trendline should face downwards! (Which isn't possible in your setup, meaning that it is an invalid Classic WW)
Missed that, but got it now! Thanks for your prompt respons!
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