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Wolfe Waves - Get in the Zone

  • #881
  • Edited 2:56am Apr 22, 2017 2:32am | Edited 2:56am
Quoting CrocodileRex
{quote} yea, i did download his indicator when he first posted it but didn't help me much. But now since you mentioned it, i redownload again and guess what, it has opened my eyes in a big way. I always believe that indicators will cloud my judgement but this one actually helps scan quickly for potential WW in a fast time. I actually needed it a lot because scanning all the pairs daily really put a strain on my eyes and body. Thanks for mentioning that and also thanks a lot for your hard work mr parviz. In fact, we have a potential ww forming here....
I'm glad you tried the new super charged WW indicator version.

I'm still holding long on CAD/JPY from a 4H CWW from last week. Geopolitical risk off took all Yen pairs down the previous week. This week all of those pairs recovered EXCEPT the CAD/JPY. Why?? Because oil prices got crushed. Adding insult to injury, the Canadian CPI inflation data on Friday missed expectations.

My entry was at the green circle. 200FIB being tested a second time. Small position, big stop loss below the 200FIB.

CAD/JPY 4H CWW
Attached Image (click to enlarge)
Click to Enlarge Name: cj4hchart.png Size: 70 KB


Outside the scope of this thread, but looking at my own Gann fan analysis on the daily suggests we are at an energy point that should provide some resistance. Any recovery in oil prices should give CAD/JPY a nice boost. I would think 80 would be a tough nut to crack.

DAILY CAD/JPY
Attached Image (click to enlarge)
Click to Enlarge Name: cjdaily.png Size: 82 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #882
  • Apr 22, 2017 4:46am Apr 22, 2017 4:46am
Hello Parviz,

I have a question about the fibo AB. Shouldn't it be the other way around? It is drawing lines based on the opposite direction now. XA and BC are fine. I attached this usd/jpy chart for your reference. Just gotta flip the 100 and 0 fibo the other side.

Can you fix it?

Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily 4-20.png Size: 71 KB
  • #883
  • Apr 22, 2017 5:06am Apr 22, 2017 5:06am
hi my name is Enzo i find this forum by chance i was looking for economic news and i sow a test wolf wave pattern not sure how to use this forum i try to post
and something went wrong thanks for the forum i will be reading some of your post to get familiar of the pattern
i don't trade yet forex i would like to maybe in the future i need to find out what program to use and what brokerage to use
thanks for the forum there is lots of good information
  • #884
  • Edited 9:36am Apr 22, 2017 9:05am | Edited 9:36am
Hi All,
Getting up to speed with mt4 and Parviz's Indicator.
[For now, I only have mt4 on a demo account,
not my live account]
USDJPY H4 may be shaping up as a CWW?
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: 170421 USDJPY [1] 4H.png Size: 72 KB
Wait, or you will be slaughtered!
  • #885
  • Apr 22, 2017 12:40pm Apr 22, 2017 12:40pm
HI Parviz,
I thought I would compare [Kurt's] CWW with the Harmonic Elliott Impulse Wave.
It looks like you've coded the HEW from Wave iii to Wave v.
Also it defines the end of Wave ii via the zigzags.
So that's 60% of the HEW coded.
[reverse engineered.]
From what I can see, a CWW is a picture perfect
Wave iv and v of a HEW Impulse Wave.
[HEW: the WW Wave b doesn't have to be lower than the WW Wave x]
Cheers, U2
Attached Image(s) (click to enlarge)
Click to Enlarge Name: #HEW Struc Long Wolfe.jpg Size: 34 KB
Click to Enlarge Name: #HEW Struc Short Wolfe.jpg Size: 35 KB
Attached Image
Wait, or you will be slaughtered!
  • #886
  • Edited 1:38pm Apr 22, 2017 1:08pm | Edited 1:38pm
Quoting CrocodileRex
Hello Parviz, I have a question about the fibo AB. Shouldn't it be the other way around? It is drawing lines based on the opposite direction now. XA and BC are fine. I attached this usd/jpy chart for your reference. Just gotta flip the 100 and 0 fibo the other side. Can you fix it? Thanks! {image}
Hi:
No sir it is correct, when you put a fibo on AB, what you want to measure is the reteracement of BC ,which in your picture it is, correctly shown to be 38.2% exactly.
And all the fibos are the same ,100% line is on the first point and 0% line on the second, and other way around is not giving you what you want to measure.
  • #887
  • Apr 22, 2017 1:39pm Apr 22, 2017 1:39pm
There's more..........
This pic. shows a CWW [stretched] which occurs
from HEW Wave (i) to (iii).
The HEW Wave (iii) is usually very long,
so the CWW target would most probably be hit.
So your indicator [Parviz] codes the HEW Impulse waves!
Amazing!
Cheers,
U2
Attached Image (click to enlarge)
Click to Enlarge Name: #HEW Struc Short Wolfe [2].jpg Size: 35 KB
Wait, or you will be slaughtered!
  • #888
  • Apr 22, 2017 1:45pm Apr 22, 2017 1:45pm
Quoting Uturn2
HI Parviz, I thought I would compare [Kurt's] CWW with the Harmonic Elliott Impulse Wave. It looks like you've coded the HEW from Wave iii to Wave v. Also it defines the end of Wave ii via the zigzags. So that's 60% of the HEW coded. [reverse engineered.] From what I can see, a CWW is a picture perfect Wave iv and v of a HEW Impulse Wave. [HEW: the WW Wave b doesn't have to be lower than the WW Wave x] Cheers, U2 {image} {image} {image}
Hi Uturn2:
What an interesting comparison and brilliant deduction..
  • #889
  • Edited 2:14pm Apr 22, 2017 1:49pm | Edited 2:14pm
Quoting Uturn2
There's more.......... This pic. shows a CWW [stretched] which occurs from HEW Wave (i) to (iii). The HEW Wave (iii) is usually very long, so the CWW target would most probably be hit. So your indicator [Parviz] codes the HEW Impulse waves! Amazing! Cheers, U2 {image}
OK , very good , i am really impressed. I was trying to correlate CWW and HEW somehow together, but , bravo i think ,You nailed it.
And your idea , proves what i was saying before, in CWW we are trading the corrections, (wave 4 and wave A, counter trend trades), in contrast to CEW, which we try to catch the trend and trade the impulse waves themselves(Wave 3 and 5).
  • #890
  • Apr 22, 2017 2:17pm Apr 22, 2017 2:17pm
Expo33 and parviz 1953 thank you very much for your work and great explain how works WW
  • #891
  • Apr 22, 2017 8:12pm Apr 22, 2017 8:12pm
Quoting Uturn2
There's more.......... This pic. shows a CWW [stretched] which occurs from HEW Wave (i) to (iii). The HEW Wave (iii) is usually very long, so the CWW target would most probably be hit. So your indicator [Parviz] codes the HEW Impulse waves! Amazing! Cheers, U2 {image}
Maybe I am not understanding what is being proposed here. The 12345 pattern in this diagram does not fit the definition of a Wolfe wave as point 4 needs to re trace back higher than point 1. Think we had this discussion earlier but maybe I am missing something? Could you please clarify?

I apologize. I don't want to seem like I'm raining on anyone's parade. I think the discussion is very productive and has the possibility of brainstorming some great ideas, just trying to keep to the purity of the structure.

Cheers, -Kurt
Pride always comes before destruction.... -Proverbs 16:18
  • #892
  • Apr 22, 2017 8:15pm Apr 22, 2017 8:15pm
Quoting jonica200
hi my name is Enzo i find this forum by chance i was looking for economic news and i sow a test wolf wave pattern not sure how to use this forum i try to post and something went wrong thanks for the forum i will be reading some of your post to get familiar of the pattern i don't trade yet forex i would like to maybe in the future i need to find out what program to use and what brokerage to use thanks for the forum there is lots of good information
Hello Jonica and welcome to this thread and to forex factory.

I think as you spend more time here at the forum site you will have a better understanding of how to post comments and chart pictures. You will get more familiar with how to navigate around the site. Ask any questions here, we are glad to help if we can.

In the meantime, if Wolfe waves are something you would like to study, then start from post #1 and take your time.

Cheers, -Kurt
Pride always comes before destruction.... -Proverbs 16:18
  • #893
  • Apr 22, 2017 8:40pm Apr 22, 2017 8:40pm
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Attached Image(s) (click to enlarge)
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Click to Enlarge Name: XABCD EWA 1.jpg Size: 109 KB
Click to Enlarge Name: XABCD EWA 11.jpg Size: 108 KB
  • #894
  • Apr 23, 2017 12:09am Apr 23, 2017 12:09am
Hi, Expo & Parviz:
First up I want to thank you for the Wolfe Wave thread and this awesome indicator! You guys rock!
After going through this thread I have a few questions that I hope you can somehow clarify:

  1. How am I supposed to use the WW indicator? What I’m still confused about is how you actually determine Point D (5)? Does the indicator actually give you D (5) when all conditions are met, or else? Do I miss anything?
  2. After you have determined D (5), am I right in saying that you just set your limit order there and wait for the market to take you in?
  3. When setting your limit order, how do you determine your initial stop-loss?

Would be great if you can clarify with some chart examples. Thank you for your time and help!

Shuo

  • #895
  • Edited 4:00am Apr 23, 2017 3:17am | Edited 4:00am
Quoting zhangshuo
Hi, Expo & Parviz: First up I want to thank you for the Wolfe Wave thread and this awesome indicator! You guys rock! After going through this thread I have a few questions that I hope you can somehow clarify: How am I supposed to use the WW indicator? What Im still confused about is how you actually determine Point D (5)? Does the indicator actually give you D (5) when all conditions are met, or else? Do I miss anything? After you have determined D (5), am I right in saying that you just set your limit order there and wait for the market to take...
Hi Shuo and welcome to the thread.

I'll try to answer your questions the best that I can.

1) The indicator chooses potential/completed waves based on the zig zag "ext depth" setting. For instance, one setting might not show a valid wave while a different setting may show a valid wave. I suggest you put the indicator on a chart and change the "extdepth" to each different setting and see what happens. The indicator automatically chooses point D so that the length of segment AB = CD. This doesn't mean that the last leg (CD) will necessarily reach that point, it just shows you where the exact completion point would be if AB were to exactly equal CD. The indicator will give you point D as soon as the CD leg starts, in other words as soon as the zig zag determines point C.

Here is an example where price reversed 61 pips before the D point. Note how the indicator shows where the AB=CD point is even though the price never actually made it down that far.

NZD/CAD DAILY CWW
Attached Image (click to enlarge)
Click to Enlarge Name: ncad.png Size: 93 KB


2) Not necessarily. Where you set your order will depend on your personal filtering system. I like to scale in with multiple positions as prices moves into my sweet zone. This is where there is some subjectivity in how you enter. Many traders will wait for the price to reverse, maybe wait for the TDI to cross. I like to use the BC FIB extension, previous S/R, and Gann fans as my filters. I ook for a "zone" for entry not a static price.

3) Again, stop loss will depend on your own personal risk profile. I tend to put my stops below the next FIB extension level. Each trade varies and my stop loss may be dependent on factors that are only particular to that trade.

Hope this helps, any other questions I will try to answer as best I can.

Thanks for posting and best trading to you.

-Kurt

PS. Hopefully Parviz will correct me if I'm wrong. I'm also still learning the finer points of this indicator.
Pride always comes before destruction.... -Proverbs 16:18
  • #896
  • Apr 23, 2017 3:47am Apr 23, 2017 3:47am
thanks Kurt
want to ask you what program software are you guy's using to use this indicator Parviz post also any advice on brokerage to use to do demo trading thank you
  • #897
  • Apr 23, 2017 5:20am Apr 23, 2017 5:20am
@Parviz

I have finally gotten some free time to really have a look at the indicator in action and have a couple of questions:

1) I have never read anywhere or seen anyone use the 120 or 241 FIB. I'm just wondering where you got them from?

2) In the chart below, why does the indicator still show a potential WW when it clearly has broken down and violated the parameters of a valid WW?

Thanks mate
Attached Image (click to enlarge)
Click to Enlarge Name: nu.png Size: 94 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #898
  • Edited 9:38am Apr 23, 2017 9:19am | Edited 9:38am
Quoting Expo33
@Parviz I have finally gotten some free time to really have a look at the indicator in action and have a couple of questions: 1) I have never read anywhere or seen anyone use the 120 or 241 FIB. I'm just wondering where you got them from? 2) In the chart below, why does the indicator still show a potential WW when it clearly has broken down and violated the parameters of a valid WW? Thanks mate {image}
Hi :
1) In harmonic pattern when C point retrace .382 then the BC projection can be between 241 to 261.8, i got this number from there, and 120 i believe from HEW ? but just i want to add all the possible fibos that anybody may need.
2)when indicator find and draw a pattern , it will stay, unless another new pattern comes up. So as long as there is no new one the last found will remain.
3)Unfortunately , i have lost nearly everything, when a virus has hit my mac computer, and still i was not able to recover them on mac , although i have backups from my source codes but, it was hard to run a window program on the mac to begin with, now during last several days i was trying to return it to its previous state and i failed. I believe i have to buy a new window running computer to be able to revive my codes..
4)For now, I can not think of any thing else, but may be we together can find a solution to change this algorithm later.
Have a nice day
PS : I have checked it again it is indeed 123.6 and will change it in next version.
  • #899
  • Apr 23, 2017 9:46am Apr 23, 2017 9:46am
Quoting Expo33
{quote} Maybe I am not understanding what is being proposed here. The 12345 pattern in this diagram does not fit the definition of a Wolfe wave as point 4 needs to re trace back higher than point 1. Think we had this discussion earlier but maybe I am missing something? Could you please clarify? I apologize. I don't want to seem like I'm raining on anyone's parade. I think the discussion is very productive and has the possibility of brainstorming some great ideas, just trying to keep to the purity of the structure. Cheers, -Kurt
Dear Expo :
You are totally right , actually i believe that he was suggesting that if we remove this condition (X location between B and C) it also can give us other opportunity for trading based on the 3rd wave construction of HEW, and this was the reason he said
Quote
So that's 60% of the HEW coded
  • #900
  • Apr 23, 2017 2:32pm Apr 23, 2017 2:32pm
Quoting parviz1953
{quote} Dear Expo : You are totally right , actually i believe that he was suggesting that if we remove this condition (X location between B and C) it also can give us other opportunity for trading based on the 3rd wave construction of HEW, and this was the reason he said{quote}
Ok, that's kind of what I thought, just wasn't sure if I misunderstood.
Pride always comes before destruction.... -Proverbs 16:18
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