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Wolfe Waves - Get in the Zone

  • #481
  • Mar 20, 2017 8:48am Mar 20, 2017 8:48am
GBPCAD - 1H - CWW (mapped on 15M - chart 1H)

AB=CD completion very close to 161.8% extension
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  • #482
  • Mar 20, 2017 8:55am Mar 20, 2017 8:55am
i spotted
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  • #483
  • Mar 20, 2017 10:36am Mar 20, 2017 10:36am
Quoting fantom
i spotted {image}
Did you take this? Care to explain your entry point and exit points?
  • #484
  • Mar 20, 2017 1:08pm Mar 20, 2017 1:08pm
Hi Expo, in a situation like this (EJ 1H) with a possible AB=CD completion right at the BRN 120.00, where would you start scaling? As said, I'm not used to go counter trend and that would make me start scaling at 161.8 ext down to the BRN but maybe it's too conservative?
Thanks
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  • #485
  • Mar 20, 2017 2:03pm Mar 20, 2017 2:03pm
Quoting parviz1953
{quote} Thanks, good point , i hope problem has been solved for now , I am trying to complete the new version soon{file}
Hi All:
Objects deleting Bug ,Fixed permanently.
Attached File(s)
File Type: ex4 parvizWolfWave.ex4   36 KB | 445 downloads
  • #486
  • Mar 20, 2017 3:30pm Mar 20, 2017 3:30pm
ARGH im confused. Do we have a simplified of a bullish chart? Im trying to compare my thinking but all my charts are bullish and the 1st page only shows a bearish rules. How do I workout where C goes?

Is this correct ?
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  • #487
  • Mar 20, 2017 4:04pm Mar 20, 2017 4:04pm
Is this correct the price should reverse at the up arrow?
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  • #488
  • Mar 20, 2017 6:41pm Mar 20, 2017 6:41pm
Quoting L.m
Hi Expo, in a situation like this (EJ 1H) with a possible AB=CD completion right at the BRN 120.00, where would you start scaling? As said, I'm not used to go counter trend and that would make me start scaling at 161.8 ext down to the BRN but maybe it's too conservative? Thanks {image}
Hi Lm

I wouldn't be scaling in until the 200FIB. I zoomed out to show the strong support at 120. If price makes it down that far, you can imagine there will be a lot of demand heading into the 120 area. I would start scaling in with very small positions first. Hopefully the chart is self explanatory.

Well spotted wave though and best of luck with this trade if it happens
Pride always comes before destruction.... -Proverbs 16:18
  • #489
  • Mar 20, 2017 6:47pm Mar 20, 2017 6:47pm
So many great posts.

Unfortunately I have about 12 hours of commitments until tomorrow morning so I will be away from the screen.

Yesterday I took a bit hit on a losing oil trade. Was on the phone blabbering away as I entered the trade and completely had my settings wrong for my risk parameters. On top of that, I had my SL on the wrong side of the FIB that was in play. As a result, instead of a small loss, it cost me a draw down far beyond my risk profile.

Lesson learned, "hands free" device doesn't mean your brain is free to focus on the task at hand!! Foolish mistake on my part. Trading is hard enough as it is without making careless mistakes.

Anyways, the only thing I have going is the EUR/USD short from last week. Hopefully we can break the 1.0725 area and gets some more downward momentum

Thanks for all of the great post ladies and gents. I am anxious to read through all of them when I get home tomorrow
Pride always comes before destruction.... -Proverbs 16:18
  • #490
  • Mar 20, 2017 9:23pm Mar 20, 2017 9:23pm
Quoting marine1983
ARGH im confused. Do we have a simplified of a bullish chart? Im trying to compare my thinking but all my charts are bullish and the 1st page only shows a bearish rules. How do I workout where C goes? Is this correct ? {image}
im on my phone at the moment so I can't help much but if you look at the PDF overview in post #1 you will see examples of both bullish and bearish WWs.
Pride always comes before destruction.... -Proverbs 16:18
  • #491
  • Mar 21, 2017 2:21am Mar 21, 2017 2:21am
Quoting Expo33
{quote} Hi Lm I wouldn't be scaling in until the 200FIB. I zoomed out to show the strong support at 120. If price makes it down that far, you can imagine there will be a lot of demand heading into the 120 area. I would start scaling in with very small positions first. Hopefully the chart is self explanatory. Well spotted wave though and best of luck with this trade if it happens
Thanks for your reply Expo, my concern was in fact the likely push toward the BRN.

Quote
ARGH im confused. Do we have a simplified of a bullish chart? Im trying to compare my thinking but all my charts are bullish and the 1st page only shows a bearish rules. How do I workout where C goes?

Is this correct ?

It's not correct, if you scroll the pages you'll find many bullish/bearish example. Just one tip, if it's an ascending WW like the one in your post, it's a bearish pattern and that means point X must be a swing high. Hope this helps
  • #492
  • Mar 21, 2017 2:22am Mar 21, 2017 2:22am
real or fake.time will tell
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  • #493
  • Mar 21, 2017 3:20am Mar 21, 2017 3:20am
Quoting fantom
real or fake.time will tell {image}
this does not look like a wolfe wave formation. Your point 1 or X is incorrect.
  • #494
  • Mar 21, 2017 3:27am Mar 21, 2017 3:27am
Quoting fantom
real or fake.time will tell {image}
Hi fantom,
At the very start of this thread, Expo has very thoughtfully included a download link for the Wolfe Wave book. It really is worth a read.
  • #495
  • Mar 21, 2017 9:27am Mar 21, 2017 9:27am
FTSE (UKX) 150Tick - not perfect shape

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  • #496
  • Mar 21, 2017 10:20am Mar 21, 2017 10:20am
Quoting salamanda74
FTSE (UKX) 150Tick - not perfect shape {image}
If I correctly read your chart, it doesn't seem a WW. In a descending pattern X should be a swing low and it's always between points B and C.
  • #497
  • Mar 21, 2017 10:30am Mar 21, 2017 10:30am
Quoting L.m
{quote} If I correctly read your chart, it doesn't seem a WW. In a descending pattern X should be a swing low and it's always between points B and C.
Yes, the lines are not converging you are correct. Point 4 in this case it above point 2 and therefore I accept that this is not a standard wave.
Apart from the fact that the SPTRD (US500) was selling off at the time, the context was good for a reversal up given that we were at the bottom of a bear channel whilst at the bottom of a broader bull channel - therefore a duelling lines pattern and a confluence of support. An expanding triangle had also just completed and that is trading range price action so I was looking for additional reasons to enter long at the bottom of the trading range. As we now know, the ftse sold off and it was a losing trade.
  • #498
  • Mar 21, 2017 11:02am Mar 21, 2017 11:02am
Quoting salamanda74
{quote} Yes, the lines are not converging you are correct. Point 4 in this case it above point 2 and therefore I accept that this is not a standard wave. Apart from the fact that the SPTRD (US500) was selling off at the time, the context was good for a reversal up given that we were at the bottom of a bear channel whilst at the bottom of a broader bull channel - therefore a duelling lines pattern and a confluence of support. An expanding triangle had also just completed and that is trading range price action so I was looking for additional reasons...
I must have misunderstood your chart, that's not what I was saying. In any case sorry it was a losing trade.
  • #499
  • Mar 21, 2017 11:54am Mar 21, 2017 11:54am
I have been doing some more on this and think i'm getting the hang of it. Anyone else have the same chart setup?
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  • #500
  • Mar 21, 2017 12:19pm Mar 21, 2017 12:19pm
EJ - 2 different timeframes.
Trend on 5 min and pullback Wolfe Wave setup on the 150 tick during a pullback

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