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Wolfe Waves - Get in the Zone

  • #381
  • Mar 16, 2017 7:23am Mar 16, 2017 7:23am
Possible setup

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  • #382
  • Mar 16, 2017 11:09am Mar 16, 2017 11:09am
FTSE 5min
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  • #383
  • Mar 16, 2017 12:13pm Mar 16, 2017 12:13pm
Just entered eur/cad. Not looking good so far.
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  • #384
  • Mar 16, 2017 1:07pm Mar 16, 2017 1:07pm
Lots of interesting setup. EURJPY, GBPJPY, GBPNZD all 8 hours and 2 hrs charts. Doesn't have time to analyze it. Feel sleepy.
  • #385
  • Mar 16, 2017 1:23pm Mar 16, 2017 1:23pm
First two positions triggered. Back later tonight. Good luck everyone

EUR/USD 4H CWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #386
  • Mar 16, 2017 1:38pm Mar 16, 2017 1:38pm
Quoting Expo33
{quote} 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)
Thanks for the input
  • #387
  • Mar 16, 2017 4:03pm Mar 16, 2017 4:03pm
Missed this one while I was sleeping but a good example of how the AB=CD can help with entry on steep angled waves. Takes the guess work out of the equation. Good for 40 pips, not bad for a 15 minute time frame. Also AB and CD legs show great symmetry.

USD/CAD 15MIN CWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #388
  • Mar 16, 2017 11:26pm Mar 16, 2017 11:26pm
i wanna share my observation as of yesterday EURUSD 5m
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  • #389
  • Mar 16, 2017 11:33pm Mar 16, 2017 11:33pm
Quoting Expo33
Putting this trade on a tight lease. Parallel waves can be steep and tough to trade NZD/CHF 30MIN PWW {image}
Interesting situation and one that comes up quite often on bigger time frames.

My NZD/CHF 30MIN bullish PWW trade is still active, however, a bearish CWW developed on the 15MIN time frame. What to do? If it were at or near the target line or TP area then it would be a no brainer. End the trade manually and take the profits.

But in this case, my original trade is kind of still in its infancy. Also, if the smaller bearish wave were to complete to the target line, it still wouldn't hit the SL for the original trade. So, I will let the trade run its course for now.

All in all, I think this scenario is a good illustration and something that WW traders should always be watching out for. Waves are constantly in motion. They should be respected and monitored with due diligence.

Original NZD/CHF 30MIN PWW trade showing the smaller wave
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Zoom shot of smaller NZD/CHF 15MIN CWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #390
  • Mar 16, 2017 11:56pm Mar 16, 2017 11:56pm
Quoting Tbuild
Possible setup {image}
Just scrolled back to find that wave, a little rough a round the edges but played out perfectly. Well done,I hope you traded it!
Pride always comes before destruction.... -Proverbs 16:18
  • #391
  • Mar 17, 2017 12:22am Mar 17, 2017 12:22am
Quoting CrocodileRex
Just entered eur/cad. Not looking good so far. {image}
Hi Croc.

I certainly don't have all the answers but just a couple of points in hindsight of course.

That was tough one. So much momentum in the D leg from such a volatile pair. Imho the symmetry was a bit off. It took 11 candles for the AB leg to complete. Then the AB=CD completion level was basically reached in 3 candles on the CD leg.

Also, not by much, but shorting above the nearest S/R instead of shorting "into" the S/R
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Pride always comes before destruction.... -Proverbs 16:18
  • #392
  • Mar 17, 2017 12:30am Mar 17, 2017 12:30am
Quoting fantom
i wanna share my observation as of yesterday EURUSD 5m {image}
Very nice, thanks for posting fantom.
Pride always comes before destruction.... -Proverbs 16:18
  • #393
  • Mar 17, 2017 1:03am Mar 17, 2017 1:03am
Quoting Expo33
{quote} Very nice, thanks for posting fantom.
Hello Expo33,

Thanks for your sharing!

I'm New to this method, is that PWW?

1 consolidation create a bottom

2 False breakout(may be?) At bottom

3 Flat consolidation use 113-127 AS entry
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About TP, which lvl would like to use? normally?
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No one wants to be defeated~
  • #394
  • Mar 17, 2017 1:05am Mar 17, 2017 1:05am
Quoting Expo33
First two positions triggered. Back later tonight. Good luck everyone EUR/USD 4H CWW {image}
A little update. Got 5 positions filled on this one. Hopefully we can get some more downward momentum heading into the New York session. One home run WW on a higher time frame can make for a big month. I would love to get down to level B by market close today and move all positions to BE. That would put a good taste in my mouth for the weekend!

EUR/USD 4H CWW UPDATE
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Pride always comes before destruction.... -Proverbs 16:18
  • #395
  • Mar 17, 2017 1:55am Mar 17, 2017 1:55am
Quoting jonirrenicus
{quote} Hello Expo33, Thanks for your sharing! I'm New to this method, is that PWW? 1 consolidation create a bottom 2 False breakout(may be?) At bottom 3 Flat consolidation use 113-127 AS entry {image} About TP, which lvl would like to use? normally? {image}
I'm not sure what your first question is. If you are asking if the wave that fantom posted is a parallel Wolfe wave (PWW), then the answer is no. It's a classic Wolfe wave (CWW) because it's converging.

I don't understand what your asking or whats going on in your first chart

I posted a diagram in post #1 of how I take profit, especially for higher time frames where I have scaled in with multiple positions. It is a generic guideline. I think take profit strategy is personal to every trader and is based on their risk profile. I see you have weekly pivots, works fine as well. Imo, there is no right or wrong way.

Not sure if this helps
Pride always comes before destruction.... -Proverbs 16:18
  • #396
  • Mar 17, 2017 2:19am Mar 17, 2017 2:19am
Quoting Expo33
{quote} A little update. Got 5 positions filled on this one. Hopefully we can get some more downward momentum heading into the New York session. One home run WW on a higher time frame can make for a big month. I would love to get down to level B by market close today and move all positions to BE. That would put a good taste in my mouth for the weekend! EUR/USD 4H CWW UPDATE {image}
down euro down!
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  • #397
  • Mar 17, 2017 2:24am Mar 17, 2017 2:24am
Quoting Expo33
{quote} I'm not sure what your first question is. If you are asking if the wave that fantom posted is a parallel Wolfe wave (PWW), then the answer is no. It's a classic Wolfe wave (CWW) because it's converging. I don't understand what your asking or whats going on in your first chart I posted a diagram in post #1 of how I take profit, especially for higher time frames where I have scaled in with multiple positions. It is a generic guideline. I think take profit strategy is personal to every trader and is based on their risk profile. I see you have...
First one is not a WW pattern, sorry.

ok i got u.this is a good exp. of CWW
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For Strong AB-CD wave we use 141-161.8, for weak AB-CD we use 113-127.

Right?
No one wants to be defeated~
  • #398
  • Mar 17, 2017 2:29am Mar 17, 2017 2:29am
Quoting jonirrenicus
{quote} First one is not a WW pattern, sorry. ok i got u.this is a good exp. of CWW {image} For Strong AB-CD wave we use 141-161.8, for weak AB-CD we use 113-127. Right?
just my opinion, if you want to use heiken, thats fine, but adding the multiple MA/vegas tunnel? will only cloud your judgement more.

And yes, that looks like a CWW.

Also, what broker are you with? a 2point spread on usd/.jpy? Seems a bit too much aint it?
  • #399
  • Mar 17, 2017 2:38am Mar 17, 2017 2:38am
For those who have not yet entered and are still looking for a decent point to enter the EURUSD WW that Expo has outlined, here is a 5 min channel that may still be operating so maybe look for a decent show of bear strength for the start of a move down. There has already been a strong bear break below the nested channel hugging the channel line so that is a decent show by the bears. Now a failed BO above the high or the top of the channel could herald the start of a decent move down, at least to the bottom of the channel. Maybe....
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  • #400
  • Mar 17, 2017 3:01am Mar 17, 2017 3:01am
Quoting CrocodileRex
{quote} down euro down! {image}
It's never easy it seems. I'm willing to hold this one as long as it takes though. Either I get stopped out or I get some substantial pips
Pride always comes before destruction.... -Proverbs 16:18
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