Attachments: Wolfe Waves - Get in the Zone

Wolfe Waves - Get in the Zone

#901
Apr 23, 2017 2:34pm Apr 23, 2017 2:34pm

Expo33
Joined Aug 2013 | Status: Trader | 4,894 Posts

Quoting parviz1953

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{quote} 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...

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Ok, I've just never seen them anywhere else. The 120 kind of makes the FIB levels a bit crowded.

Anyways, sorry to hear about your computer

Pride always comes before destruction.... -Proverbs 16:18

#902
Edited Apr 24, 2017 2:33am Apr 23, 2017 2:36pm | Edited Apr 24, 2017 2:33am

Expo33
Joined Aug 2013 | Status: Trader | 4,894 Posts

Quoting jonica200

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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

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No special software, just the Meta4 platform.

I use FxChoice for my demo (also have live acct with them) because you can have unlimited demo accounts for an unlimited time. Also, they use the New York candle close which I prefer.

Cheers

Pride always comes before destruction.... -Proverbs 16:18

#903
Apr 23, 2017 3:50pm Apr 23, 2017 3:50pm

parviz1953
| Joined Apr 2016 | Status: Trader | 410 Posts

Quoting Expo33

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{quote} Ok, I've just never seen them anywhere else. The 120 kind of makes the FIB levels a bit crowded. Anyways, sorry to hear about your computer

Ignored

Let me tell you an interesting point , get the reciprocal of any of the known fibonacci relations (.382,.5,.618,.707,.786,.886) and you get these secondary fibo relation numbers(2.618,2.0,1.618,1.41,1.27,1.13) and whenever you have point C retracement of the first set you expect to get to the amount of the 2nd set projection of Bc.......!!!
In simple math, we can say : the amount of projection of BC has inverse relationship with amount of C retracement.

And here I quote a part of a good book on harmonic trading by Scott M. Carney

Harmonic Trading Ratios
Primary Ratios:
(Directly derived from the Fibonacci Number Sequence)
0.618 = Primary Ratio
1.618 = Primary Projection
Primary Derived Ratios:

0.786 = Square root of the 0.618 ( )
0.886 = Fourth root of 0.618 or

Square root of the 0.786 (

1.13 = Fourth root of 1.618 or
Square root of the 1.27 ( )
1.27 = Square root of the 1.618 (
Complementary Derived Ratios:

0.382 = (1-0.618) or 0.6182
0.707 = Square root of 0.50 ( )
1.41=Squarerootof2.0( )
2.0 = (1+1)
2.24=Squarerootof5( )
2.618 = 1.6182

3.14 = Pi (See later section The Importance of Pi (3.14) in Harmonic Trading)
3.618 = (1+2.618)

#904
Apr 23, 2017 5:45pm Apr 23, 2017 5:45pm

parviz1953
| Joined Apr 2016 | Status: Trader | 410 Posts

Quoting PipsMaster23

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I follow what your saying... but such a bullish move is more likely to carry on with its current momentum , for me as long as we stay above 138.40/70 zones im happy to carry on trailing this move up.... i can potentially see this reaching 142+ within this week... Daily TF is showing a target towards this level also. Until we make a LH and a LL i remain quite bullish this pair!

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Hi PipsMaster:
I am seeing now how good your prediction was, would you please elaborate more on how did you reach to that conclusion andwhat were the factors or indicators you considered....??

(how did you find those numbers 142 and 138.4, were those fibo retracment and projection ??)

#905
Apr 23, 2017 6:41pm Apr 23, 2017 6:41pm

PipsMaster23
| Joined Mar 2010 | Status: Trader | 616 Posts

Quoting parviz1953

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{quote} Hi PipsMaster: I am seeing now how good your prediction was, would you please elaborate more on how did you reach to that conclusion andwhat were the factors or indicators you considered....??(how did you find those numbers 142 and 138.4, were those fibo retracment and projection ??)

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Hi parviz,

My MEDIUM term view is that October 2016 was a turning point low...122 towards 148 i believe that move to be the accumulation phase of a primary trend, we have had our correction back to 135 (50% ) and now i think we enter the participation phase with 148 target possible by June 15th. Then things could get messy, we may even see the excess move to 155 maybe.... we would need to see LH and LL to start negating a more bullish outcome if reach 148. DOW Theory is what its based on
my levels are based on standard psychological but also technical S+R (support & resistance)... 138.40 zone simply due to being a yearly low even though broken when we reached 135 new year low, as this level SHOULD come as support the WW gave me that confirmation i wanted to strengthen my case for myself on the DAILY TF, so this brought about further conviction that im in the right move.... 142 was a WW target i had on the daily but i also had such a target as a zone are as we can see it on the DAily TF how many times price reacts to this zone area.

The GAP now does confuse a few things, i dont like GAPS for obvious reasons, but i think with the volatility we will have in this pair and based on the move and cycle i believe we are in i would continue to be bullish (with the price targets i mentioned) till we see either LH - failure swing and negate the bullish outlook, even though fundamentally it should all be against GBPJPY bullish outlook (BREXIT and WARS .... SELL the RUMOR BUY the FACT

)

My Long term view is that we see uncharted territory just not yet, i hope

Cheers!!

#906
Apr 23, 2017 8:27pm Apr 23, 2017 8:27pm

Expo33
Joined Aug 2013 | Status: Trader | 4,894 Posts

Quoting parviz1953

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{quote} Let me tell you an interesting point , get the reciprocal of any of the known fibonacci relations (.382,.5,.618,.707,.786,.886) and you get these secondary fibo relation numbers(2.618,2.0,1.618,1.41,1.27,1.13) and whenever you have point C retracement of the first set you expect to get to the amount of the 2nd set projection of Bc.......!!! In simple math, we can say : the amount of projection of BC has inverse relationship with amount of C retracement. And here I quote a part of a good book on harmonic trading by Scott M. Carney Harmonic...

Ignored

Agree, I've seen this before. Of course .5, .707, and .886 aren't technically derived from the sequence in the way the standard fib levels are derived. Still not seeing where the 120 and 241 come from. Not really a big deal anyways, was just curious.

Pride always comes before destruction.... -Proverbs 16:18

#907
Edited 11:07pm Apr 23, 2017 10:54pm | Edited 11:07pm

parviz1953
| Joined Apr 2016 | Status: Trader | 410 Posts

Quoting Expo33

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{quote} Agree, I've seen this before. Of course .5, .707, and .886 aren't technically derived from the sequence in the way the standard fib levels are derived. Still not seeing where the 120 and 241 come from. Not really a big deal anyways, was just curious.

Ignored

This is another pragraph from the same book:
[
AB=CD Reciprocal Ratios
In the AB=CD pattern, the alignment of Fibonacci ratios within the structure usually manifests specific reciprocal relationships. The reciprocal ratio of the C point retracement of the AB leg usually indicates which BC projection is utilized to define the Potential Reversal Zone (PRZ). For instance, a 0.618 retracement at the C point typically will possess a 1.618 BC projection that converges closest with the completion of the AB=CD. This reciprocal relationship within the equivalent AB=CD pattern defines the best PRZ for this structure. The reciprocal ratios that complement the AB=CD structure are as follows:
C Point Retracement 0.382
0.50 0.618 0.707 0.786 0.886
BC Projection .24 or 2.618
2.0 1.618 1.41 1.27 1.13
The reciprocal ratios help define the completion of the pattern. However, the most important consideration to remember is that the BC projection should converge closely with the completion of the AB=CD.

when c retracement is .382 then projection is either 2.41 or 2.618(this is exactly copied from the book and there is, interestingly a printing error of .24 ,instead of 2.41)

EDITTED : OH sorry you are right my mistake it was indeed 2.24 and the first number was missed in printing the table.but here i found another source .

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#908
Edited 3:30am Apr 24, 2017 12:16am | Edited 3:30am

Expo33
Joined Aug 2013 | Status: Trader | 4,894 Posts

Quoting parviz1953

Disliked

{quote} This is another pragraph from the same book: [ AB=CD Reciprocal Ratios In the AB=CD pattern, the alignment of Fibonacci ratios within the structure usually manifests specific reciprocal relationships. The reciprocal ratio of the C point retracement of the AB leg usually indicates which BC projection is utilized to define the Potential Reversal Zone (PRZ). For instance, a 0.618 retracement at the C point typically will possess a 1.618 BC projection that converges closest with the completion of the AB=CD. This reciprocal relationship within...

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I understand the theory and have seen dozens and dozens of harmonic charts from bats to sharks to gartleys to chipmunks (actually no chipmunks), but I have never seen the 120 appear anywhere. It doesn't appear in either of your posts either. I know, I'm acting like a lawyer prosecuting the poor 120 FIB. "On the night in question, did you or did you not.............."

Anyways, back to Wolfe waves. The French election has kind of thrown many pairs out of their natural harmonic rhythm, which is quite normal for exceptional news events. Once the market settles back into its normal flow, we should see some good opportunities.

Cheers

Note: Maybe the printing error was supposed to be 2.24 because that's the FIB that's shown on Scott's site as well as many others for the BAT pattern. See here: http://harmonictrader.com/blog/2013/08/03/crab/

Pride always comes before destruction.... -Proverbs 16:18

#909
Apr 24, 2017 3:25am Apr 24, 2017 3:25am

Expo33
Joined Aug 2013 | Status: Trader | 4,894 Posts

Mapped and tracking.

GBP/USD 30MIN CWW

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Pride always comes before destruction.... -Proverbs 16:18

#910
Edited 11:46am Apr 24, 2017 3:29am | Edited 11:46am

Expo33
Joined Aug 2013 | Status: Trader | 4,894 Posts

Mapped and tracking

USD/CAD 1H CWW

Attached Image (click to enlarge)

EDIT: Before this trade triggered, I realized the stop loss wasn't far enough down. If you look at the fib extensions, the SL should be below the 200. Why? Well, theoretically if price breaks the 161 level then it's likely going to continue to the 200 so it makes sense to put the SL below the 200

Pride always comes before destruction.... -Proverbs 16:18

#911
Apr 24, 2017 4:43am Apr 24, 2017 4:43am

Expo33
Joined Aug 2013 | Status: Trader | 4,894 Posts

Quoting Expo33

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Mapped and tracking USD/CAD 1H CWW {image}

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First trade of the week triggered. Nice symmetry, let's see how we do here.

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Pride always comes before destruction.... -Proverbs 16:18

#912
Apr 24, 2017 5:40am Apr 24, 2017 5:40am

poruchik
Joined Dec 2006 | Status: Trader | 719 Posts

Quoting Expo33

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2.24

Ignored

2.236

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#913
Apr 24, 2017 6:13am Apr 24, 2017 6:13am

CrocodileRex
Joined Sep 2016 | Status: Trader | 622 Posts

Quoting Expo33

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Mapped and tracking USD/CAD 1H CWW {image}

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i took a 15min ucad trade also and got hit stoploss.

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#914
Apr 24, 2017 7:13am Apr 24, 2017 7:13am

parviz1953
| Joined Apr 2016 | Status: Trader | 410 Posts

Quoting Expo33

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{quote} I understand the theory and have seen dozens and dozens of harmonic charts from bats to sharks to gartleys to chipmunks (actually no chipmunks), but I have never seen the 120 appear anywhere. It doesn't appear in either of your posts either. I know, I'm acting like a lawyer prosecuting the poor 120 FIB. "On the night in question, did you or did you not.............." Anyways, back to Wolfe waves. The French election has kind of thrown many pairs out of their natural harmonic rhythm, which is quite normal for exceptional news...

Ignored

OK : 120 , has been convicted and will be beheaded and omitted by my guillotine ,in the next version

, any other correction do you think would be necessary ..?
eg. adding 2.24?

#915
Apr 24, 2017 11:29am Apr 24, 2017 11:29am

Expo33
Joined Aug 2013 | Status: Trader | 4,894 Posts

Quoting Expo33

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{quote} First trade of the week triggered. Nice symmetry, let's see how we do here. {image}

Ignored

This happened to work out well, not all trades do, but this is a text book example. Last position just about hit, will close manually at this point. Putting the stop loss below the next fib level gave this trade just enough room to breathe. Nothing worse than being right only to lose because the stop loss wasn't placed correctly.

Not trying to toot my own horn, just walking all the way through this trade

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Pride always comes before destruction.... -Proverbs 16:18

#916
Apr 24, 2017 11:32am Apr 24, 2017 11:32am

Expo33
Joined Aug 2013 | Status: Trader | 4,894 Posts

Quoting poruchik

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{quote} 2.236 {image} {image} {image} {image}

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Excellent.

Thank you Poruchik. I have casually glanced at the golden ratio theory before but this makes it very clear

Pride always comes before destruction.... -Proverbs 16:18

#917
Apr 24, 2017 11:38am Apr 24, 2017 11:38am

Expo33
Joined Aug 2013 | Status: Trader | 4,894 Posts

Quoting CrocodileRex

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{quote} i took a 15min ucad trade also and got hit stoploss. {image}

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The bigger wave always takes precedence over the smaller wave when taking a trade. If you look at post #915 you can see the stop loss for the bigger wave allows the trade to breath properly.

Smaller waves that develop inside bigger waves are used more for exit. For example, you trade a 4H bullish WW and half way to your target price a bearish WW develops on the hourly, maybe time to exit early.

Pride always comes before destruction.... -Proverbs 16:18

#918
Apr 24, 2017 11:42am Apr 24, 2017 11:42am

Expo33
Joined Aug 2013 | Status: Trader | 4,894 Posts

Quoting parviz1953

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{quote} OK : 120 , has been convicted and will be beheaded and omitted by my guillotine ,in the next version, any other correction do you think would be necessary ..? eg. adding 2.24?

Ignored

Off with his head!!!

Pride always comes before destruction.... -Proverbs 16:18