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Wolfe Waves - Get in the Zone

  • #361
  • Mar 15, 2017 9:05am Mar 15, 2017 9:05am
Quoting dodeena7480
shot selling E|A AB=CD Long A | C for long time {image} {image}
Hi dodeena. I traded the AUDCHF setup last week and it is still going on the direction of my wish.
I was happy how the prediction works.
I attached setup from my previous post 184, for reference.

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  • #362
  • Edited 10:43am Mar 15, 2017 10:24am | Edited 10:43am
Good morning Expo, what about a new try with tick volume . Bill Wolf put more emphasis on the volume. Accordioning to the PDF it is released, he would even reluctant to trade unless formation of point 5 is supported by heavy volume. Point 5 is wave D in our situation.

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Attachment g
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  • #363
  • Edited 9:33pm Mar 15, 2017 12:00pm | Edited 9:33pm
Dear Expo :
I was reading this excellent thread all the way from the first page , and i hoped that you would discuss and teach us more about what was mentioned in the first post eg:

PWW = PARALLEL WOLFE WAVE
AWW = ANTI WOLFE WAVE
that would be great if you write a little bit on these items too.
are there other variant of ww that can be traded??
As far as i got till now ,ww is part of a very larger group of Harmoinc patterns ,am i right ??
do you trade other harmonics ??
  • #364
  • Mar 15, 2017 7:42pm Mar 15, 2017 7:42pm
good morning Trader 16,03,17
Shot selling EJ AB=CD and Shot selling CJ
TF 4H
THX Bro
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  • #365
  • Mar 15, 2017 7:48pm Mar 15, 2017 7:48pm
  • #366
  • Mar 15, 2017 11:47pm Mar 15, 2017 11:47pm
Hello. Pls share your view of AUDUSD, NZDUSD, and USDCHF. And post some charts. Anybody?
  • #367
  • Mar 16, 2017 12:17am Mar 16, 2017 12:17am
Quoting frx_trader
Hello. Pls share your view of AUDUSD, NZDUSD, and USDCHF. And post some charts. Anybody?
I don't trade the chfs. As for aud and nzd, i don't see any good ones coming up. Especially after the fomc decision yesterday. I think it's wise to wait for the majors to form their own structures for a while. Maybe tomorrow might be good.

Meanwhile, i am focusing on crosses today. Not much setups so far.
  • #368
  • Mar 16, 2017 12:23am Mar 16, 2017 12:23am
Quoting CrocodileRex
{quote} I don't trade the chfs. As for aud and nzd, i don't see any good ones coming up. Especially after the fomc decision yesterday. I think it's wise to wait for the majors to form their own structures for a while. Maybe tomorrow might be good. Meanwhile, i am focusing on crosses today. Not much setups so far.
Thanks. Any charts?
  • #369
  • Edited 2:45am Mar 16, 2017 2:08am | Edited 2:45am
Quoting sailingboat
Good morning Expo, what about a new try with tick volume . Bill Wolf put more emphasis on the volume. Accordioning to the PDF it is released, he would even reluctant to trade unless formation of point 5 is supported by heavy volume. Point 5 is wave D in our situation. {image} 2230622 {image}
Yes I know he did. The problem is he didn't trade forex, he traded securities where true volume is known. In forex we don't have a centralized market to know the true volume.

I do however look at the MFI (Bill Williams Market Facilitation Index)
Pride always comes before destruction.... -Proverbs 16:18
  • #370
  • Edited 5:00am Mar 16, 2017 2:31am | Edited 5:00am
Quoting parviz1953
Dear Expo : I was reading this excellent thread all the way from the first page , and i hoped that you would discuss and teach us more about what was mentioned in the first post eg: PWW = PARALLEL WOLFE WAVE AWW = ANTI WOLFE WAVE that would be great if you write a little bit on these items too. are there other variant of ww that can be traded?? As far as i got till now ,ww is part of a very larger group of Harmoinc patterns ,am i right ?? do you trade other harmonics ??
Hi Parviz, sorry been super busy all day just sat down to look at some charts and read new posts.

Yes, I think WWs in many instances are part of larger harmonic structures. And yes I have studied many harmonic structures over the years. I just like the simplicity of the WW and so I decided to focus on this one simple structure. I decided to try and be really good at one thing instead of being mediocre at many things.

I never got around to putting up a diagram for the AWW and PWW because the intent was to focus on the classic WW first. The anti wave was just something I noticed when studying 1000s of charts. I just gave it that generic name. I'm not sure but I believe Bill Wolfe traded parallel waves. I haven't taken his course so can't say for sure. However, I have seen others traders talk about it in other threads.

Here is an example of the AWW and PPW that I had saved on my computer. Not much different than the classic WW

AWW >> only difference is that line XB and AC are diverging, not converging, and because of this, the sweet zone is rarely penetrated as much as it is in the CWW. The AB=CD completion level tends to take place at the 113 or 127 FIB.

PWW >> only difference is that line XB is horizontal

When I get time I will try to update the first post with a diagram for each. Hope this helps for now.

EUR/USD 4H AWW
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GBP/AUD 4H PWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #371
  • Mar 16, 2017 3:11am Mar 16, 2017 3:11am
I hesitated waiting for a better entry and missed this nice little bounce. Sometimes waiting for a few extra pips on entry can cost you a nice trade. Oh well, moving right along

USD/CHF 15MIN CWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #372
  • Mar 16, 2017 3:53am Mar 16, 2017 3:53am
PLZ tell me your ideas about this one. @Expo33
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  • #373
  • Edited 4:54am Mar 16, 2017 4:20am | Edited 4:54am
Quoting FXPartisan
PLZ tell me your ideas about this one. @Expo33 {image}
I mapped this out and starting tracking it yesterday

Quoting Expo33
Very clean structure so far. Who knows, maybe the FED won't cut or they will cut with super dovish rhetoric. If this gets there, I'll be waiting EUR/USD 4H CWW {image}
Per my own rules, my scale in zone would be from 107.60 - 107.90. My gut says it won't reach that price. If it does I will enter, if it doesn't I will pass and look for another set up.
Pride always comes before destruction.... -Proverbs 16:18
  • #374
  • Mar 16, 2017 4:24am Mar 16, 2017 4:24am
Quoting Expo33
I hesitated waiting for a better entry and missed this nice little bounce. Sometimes waiting for a few extra pips on entry can cost you a nice trade. Oh well, moving right along USD/CHF 15MIN CWW {image}
Expo, thanks for your chart.
I actually placed a buy entry @ 1.001 in asian session. Targeting 1.020. Then it just dropped to 0.990 in a minute. Then it dropped again to .985. I exited there, thinking it would drop to 0.960.

15 pips loss.
  • #375
  • Mar 16, 2017 4:26am Mar 16, 2017 4:26am
Quoting FXPartisan
PLZ tell me your ideas about this one. @Expo33 {image}
May i share an opinion. Technically the chart looks bearish, since there is a leg hanging there without support. But market makers may think it should go up more.

Or maybe it just smoke screen for bear. A camouflage.
  • #376
  • Mar 16, 2017 6:27am Mar 16, 2017 6:27am
Mapped and ready

USD/CAD 15MIN CWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #377
  • Mar 16, 2017 7:39am Mar 16, 2017 7:39am
Quoting Expo33
Mapped and ready USD/CAD 15MIN CWW {image}
The structure is no good for me anymore so into the scrap pile it goes.
Pride always comes before destruction.... -Proverbs 16:18
  • #378
  • Mar 16, 2017 7:41am Mar 16, 2017 7:41am
Putting this trade on a tight lease. Parallel waves can be steep and tough to trade

NZD/CHF 30MIN PWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #379
  • Mar 16, 2017 7:44am Mar 16, 2017 7:44am
Hey Expo

thanks for all your hard work, I was just about to ask you if the sideways price action invalidated the USDCAD setup and you beat me to the punch.

I notice that you have a lot of uncommon levels in the fib tool, in your experience are these all equally valid? Or are the regular levels more powerful?

Thanks again

keith
  • #380
  • Mar 16, 2017 8:08am Mar 16, 2017 8:08am
Quoting kminler
Hey Expo thanks for all your hard work, I was just about to ask you if the sideways price action invalidated the USDCAD setup and you beat me to the punch. I notice that you have a lot of uncommon levels in the fib tool, in your experience are these all equally valid? Or are the regular levels more powerful? Thanks again keith
You're welcome and thanks for posting.

Yes, the USD/CAD CD leg just started meandering too much and now has totally broken down below the AC trend line.

At one time or another I have read about all of the FIB levels that I use. I guess it all depends on who you talk to. Nothing beats good old trial and error. I think all of those levels are useful in a given situation. For me, the wave angle has a lot to do with it. If you can find 1000 valid WWs and then put the FIB extension on each one, you begin to see the same pattern repeating.

Here is a generic "cheat sheet" for some popular harmonic patterns. Notice every level I use is in there somewhere. Even the little used 141 level is in there (my personal favorite). If you google FIB levels, forex, etc you'll find some very good discussions on FIB levels

Hope that helps, time for some rest here. Cheers
Attached Image (click to enlarge)
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Pride always comes before destruction.... -Proverbs 16:18
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