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Wolfe Waves - Get in the Zone

  • #321
  • Mar 14, 2017 4:18am Mar 14, 2017 4:18am
Quoting Expo33
{quote} Nice job Croc. I saw that A/N but for some reason just couldn't pull the trigger
The A/N wasn't nice actually. If i had pay more attention, i would not entered that trade. There was not enough harmonic pattern on it. Also, i shoulda entered at 2.0 there instead of 1.618.
  • #322
  • Mar 14, 2017 4:24am Mar 14, 2017 4:24am
Subscribed...looking forward for the rest of WW explanation and trying to figure out how recognize them...
Thanks for sharing your knowledge Expo33!!
  • #323
  • Edited 4:44am Mar 14, 2017 4:26am | Edited 4:44am
Quoting CrocodileRex
{quote} The A/N wasn't nice actually. If i had pay more attention, i would not entered that trade. There was not enough harmonic pattern on it. Also, i shoulda entered at 2.0 there instead of 1.618.
That's what was bothering me, it was a bit rough around the edges. My gut said do it do it do it, but I decided stick to my plan and not rationalize. There are always other opportunities.
Pride always comes before destruction.... -Proverbs 16:18
  • #324
  • Mar 14, 2017 4:27am Mar 14, 2017 4:27am
Quoting salamanda74
And another, sadly just completed AUDUSD 5min {image}
We nickname you master Wolfe wave scalper! Keep those posts coming, good stuff!
Pride always comes before destruction.... -Proverbs 16:18
  • #325
  • Mar 14, 2017 4:47am Mar 14, 2017 4:47am
Quoting Expo33
A little late to the party but getting short here on retest of broken trend line USD/JPY 15MIN CWW {image}
Looks nice. I didn't notice this setup also. Maybe i'm more focusing on the smaller swings. Didnt really zoom out for the big picture.

I noticed you have a higher risk:reward. As you know, i have a 1:1 ratio and for me, this usd/jpy is considered tested as it turned from the sweat zone for about 10-15 pips. I see that you are aiming for around 25 pips profit?

if this hits all your take profit, what is your ratio?
  • #326
  • Mar 14, 2017 5:01am Mar 14, 2017 5:01am
Quoting CrocodileRex
{quote} Looks nice. I didn't notice this setup also. Maybe i'm more focusing on the smaller swings. Didnt really zoom out for the big picture. I noticed you have a higher risk:reward. As you know, i have a 1:1 ratio and for me, this usd/jpy is considered tested as it turned from the sweat zone for about 10-15 pips. I see that you are aiming for around 25 pips profit? if this hits all your take profit, what is your ratio?
I actually tend to manually manage the trades. I only set the TPs around the standard 2:1 ratio so I don't miss any major spikes when I am away from the screen for longer periods of time (of course I can manage from my phone too but have been really busy lately)

For smaller time frames like this trade, if the trade moves to 1:1 like 15 pips or so, I will take profit on a few positions and let the other 2 run with trailing stop or just move SL to BE. I am definitely conservative on my TPs as a rule. Actually trying to train myself to let the winners run, one of my many weaknesses. But on the flip side as I've mentioned before, these set ups aren't meant to be major reversals, just short term price bounces or as I like to say, temporary price attitude re-adjustments
Pride always comes before destruction.... -Proverbs 16:18
  • #327
  • Mar 14, 2017 5:13am Mar 14, 2017 5:13am
Quoting Expo33
{quote} I actually tend to manually manage the trades. I only set the TPs around the standard 2:1 ratio so I don't miss any major spikes when I am away from the screen for longer periods of time (of course I can manage from my phone too but have been really busy lately) For smaller time frames like this trade, if the trade moves to 1:1 like 15 pips or so, I will take profit on a few positions and let the other 2 run with trailing stop or just move SL to BE. I am definitely conservative on my TPs as a rule. Actually trying to train myself to let...
yea i get what you mean totally. For myself, i can't really seem to be fond of the idea of having many small open positions and let them run. Might be i am very paranoid and can't sleep at night aiming for the long run.

I guess a trader has to find what suits them the best. I am kinda a scalper, fast in, fast out. Better for health too i think. Well, the adrenalin rush during the trade is really something though especially when your stoploss is too small and the spread is sometimes killing you.

Was eating hypertension pills since few years back. Forex must have done alot to my poor body. Too late to get out now though.

oh guys, do meditation. It really helps me to release some stress. it really works.

Also, another thing good about this wolfe wave system is you really can map it out like expo33 said (thanks once again for this thread!). Draw the lines, wait for the price to hit and let it go. It takes patience for a trade to form and i think this system is really changing my habit to a better one. With all other free times, i can use to spend on watching some good movies.

GOLD in progress guys.
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  • #328
  • Mar 14, 2017 5:27am Mar 14, 2017 5:27am
Quoting Expo33
A little late to the party but getting short here on retest of broken trend line USD/JPY 15MIN CWW {image}
Hi Expo, I was having a look at your setup and I have identified something that may be worth watching out for, but I am no expert - just learning.
Looking at the higher time frame charts there are various spikes and channels in operation and one such channel started on the 10th. A retrace to the start of that channel would see a move to the higher rectangle shown on the inserted chart. Apologies for all of the other dotted levels, but I have many S&R levels on my H1 charts. The move between 6 and 8am this morning was quite strong (and was also a move from the bottom of a 15min channel to the top) and broke above a prior swing high / pivot at around 11498 and there is still a gap, which could be a measuring gap. The leg leading up to that was 11498-11454=44 points so if that measuring gap stays open (or if there is obvious future support created by that gap), projecting up 44 points from 11498 would give a target of 11542 which is in the region of the channel retrace I referred to earlier. Just my 2 penny worth and something to watch if your Wolfe Wave move doesn't get going. I'm not saying it won't, but just something to bear in mind.
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  • #329
  • Mar 14, 2017 5:30am Mar 14, 2017 5:30am
Quoting CrocodileRex
{quote} yea i get what you mean totally. For myself, i can't really seem to be fond of the idea of having many small open positions and let them run. Might be i am very paranoid and can't sleep at night aiming for the long run. I guess a trader has to find what suits them the best. I am kinda a scalper, fast in, fast out. Better for health too i think. Well, the adrenalin rush during the trade is really something though especially when your stoploss is too small and the spread is sometimes killing you. Was eating hypertension pills since few years...
Thanks for the kind words. For me too, I like the mapping and waiting for price to come into the spiders web. Plus this fits my contrarian nature
Pride always comes before destruction.... -Proverbs 16:18
  • #330
  • Mar 14, 2017 6:10am Mar 14, 2017 6:10am
Quoting CrocodileRex
{quote} yea i get what you mean totally. For myself, i can't really seem to be fond of the idea of having many small open positions and let them run. Might be i am very paranoid and can't sleep at night aiming for the long run. I guess a trader has to find what suits them the best. I am kinda a scalper, fast in, fast out. Better for health too i think. Well, the adrenalin rush during the trade is really something though especially when your stoploss is too small and the spread is sometimes killing you. Was eating hypertension pills since few years...
Another possibility for the gold trade?
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  • #331
  • Mar 14, 2017 6:18am Mar 14, 2017 6:18am
Quoting salamanda74
{quote} Another possibility for the gold trade? {image}
yes, but i considered that wave gone because price already retraced so much towards the EPA. I consider this as a successful wolfe wave already.

If i were to enter, it would be at 1200.40 but price never made it there so too bad.
  • #332
  • Mar 14, 2017 6:23am Mar 14, 2017 6:23am
Quoting CrocodileRex
{quote} yes, but i considered that wave gone because price already retraced so much towards the EPA. I consider this as a successful wolfe wave already. If i were to enter, it would be at 1200.40 but price never made it there so too bad.
okey doke :-)
  • #333
  • Mar 14, 2017 7:11am Mar 14, 2017 7:11am
Currently looking at back-testing a system for FTSE 100 stocks when I get chance and I came across this, which is possibly relevant for those who can trade UK shares. Apologies if this is not wanted in the thread. If too 'off-topic' just shout.
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  • #334
  • Mar 14, 2017 9:03am Mar 14, 2017 9:03am
Quoting Expo33
A little late to the party but getting short here on retest of broken trend line USD/JPY 15MIN CWW {image}
I took profits before the target line but this one ended up being a text book CWW. AB=CD to the pip, FIB confluence and nice symmetry between AB and CD and also between XA and BC
USD/JPY 15MIN CWW RESULT
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Pride always comes before destruction.... -Proverbs 16:18
  • #335
  • Mar 14, 2017 10:01am Mar 14, 2017 10:01am
My first attempt....lets see how it goes......

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  • #336
  • Mar 14, 2017 10:49am Mar 14, 2017 10:49am
Watching how this 1 reacts, dont know if it will pop thru.

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  • #337
  • Mar 14, 2017 12:05pm Mar 14, 2017 12:05pm
Quoting Tbuild
Watching how this 1 reacts, dont know if it will pop thru. {image}
i was in this one but i chickened out at +6. Because i was heavily leveraged on nzd/usd on a bad trade on another system. I coulda gotten +10 on aud/usd though. I was too drunk and not in a good condition to trade anymore for tonight. Gotta stop now.

I'm telling you expo, this wolfe wave thing is really something here but maybe it is too early to tell. I'll gather more datas as this thread progresses.
  • #338
  • Mar 14, 2017 12:38pm Mar 14, 2017 12:38pm
Hey Croc a win is a win, good for you. I grabbed it at top because it was moving up pretty fast. Not sure on the pip total, does this total 121 or 12 pips.
I mostly trade futures, it seems theres many more opportunities in forex.

Attached Image (click to enlarge)
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  • #339
  • Mar 14, 2017 6:10pm Mar 14, 2017 6:10pm
Quoting Tbuild
Watching how this 1 reacts, dont know if it will pop thru. {image}
Nicely done!

I love the bounce factor because it gives you the option to take some profit off the table and/or move the SLs to BE for a free run at the home run target line
Pride always comes before destruction.... -Proverbs 16:18
  • #340
  • Mar 14, 2017 6:12pm Mar 14, 2017 6:12pm
Quoting CrocodileRex
{quote} i was in this one but i chickened out at +6. Because i was heavily leveraged on nzd/usd on a bad trade on another system. I coulda gotten +10 on aud/usd though. I was too drunk and not in a good condition to trade anymore for tonight. Gotta stop now. I'm telling you expo, this wolfe wave thing is really something here but maybe it is too early to tell. I'll gather more datas as this thread progresses.
Agree, the WW has unlimited potential. I am still studying past and present charts to find some additional filters.

So far I haven't anytime for the screen today so no trades as of yet

Probably won't do anything with US pairs until after the Fed tomorrow.
Pride always comes before destruction.... -Proverbs 16:18
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