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Wolfe Waves - Get in the Zone

  • #1,041
  • May 2, 2017 6:12am May 2, 2017 6:12am
GBPUSD 2H Chart:
Still looks on track for higher.
Maybe it can complete a CWW on a higher depth setting?
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 170502 2H [1].png Size: 75 KB
Wait, or you will be slaughtered!
  • #1,042
  • May 2, 2017 7:43am May 2, 2017 7:43am
Quoting CrocodileRex
{quote} This is super weird because i have my fibs different than yours for the weekly chart. Have i been using the fib tool wrongly for so many years? Did you draw it wrong or me? Do you mind checking and comparing to your chart? {image}
On October 7th my broker shows a much bigger spike down, that's why the big difference.
Pride always comes before destruction.... -Proverbs 16:18
  • #1,043
  • May 2, 2017 7:56am May 2, 2017 7:56am
Quoting Uturn2
GBPUSD 2H Chart: Still looks on track for higher. Maybe it can complete a CWW on a higher depth setting? Cheers, U2 {image}
I pulled up the 2 hour chart and set the "extdepth" at 3 and there was a nice bullish CWW set up that bounced right off the 141FIB and hit the target line easily.

GBP/USD 2HOUR CWW - COMPLETED
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.png Size: 88 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #1,044
  • Edited 8:29am May 2, 2017 8:08am | Edited 8:29am
Quoting Uturn2
GBPUSD 2H Chart: Still looks on track for higher.
Maybe it can complete a CWW on a higher depth setting? Cheers, U2 {image}
GBPUSD 4H Chart:
Targeting the 1.3000+ levels.
It also indicates the HEW Wave iv and Wave v Impulse ending waves!
Amazing!
Cheers, U2

Edit:
A question: It looks like the Potential CWW forms once C(4) is valid?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 170502 4H [1] CWW.png Size: 156 KB
Wait, or you will be slaughtered!
  • #1,045
  • May 2, 2017 8:30am May 2, 2017 8:30am
Quoting Expo33
{quote} On October 7th my broker shows a much bigger spike down, that's why the big difference.
ok. thanks for the answer. I have opened up another broker for the gbp pair. Both also don't have the fibo like yours. Maybe we should compare two different brokers next time.
  • #1,046
  • May 2, 2017 8:33am May 2, 2017 8:33am
Quoting Uturn2
{quote} GBPUSD 4H Chart: Targeting the 1.3000+ levels. It also indicates the HEW Wave iv and Wave v Impulse ending waves! Amazing! Cheers, U2 Edit: A question: It looks like the Potential CWW forms once C(4) is valid? {image}
Maybe Parviz can correct me if I'm wrong.

I think that once the zig zag establishes point "C(4)", then the indicator will show the potential CWW pattern.
Pride always comes before destruction.... -Proverbs 16:18
  • #1,047
  • May 2, 2017 8:41am May 2, 2017 8:41am
Quoting Uturn2
GBPUSD 2H Chart: Still looks on track for higher. Maybe it can complete a CWW on a higher depth setting? Cheers, U2 {image}
May wave(iv) reach into span of wave(ii) as long as it does not violate wave(b) of wave (iii)?
  • #1,048
  • May 2, 2017 8:45am May 2, 2017 8:45am
Quoting Expo33
{quote} Maybe Parviz can correct me if I'm wrong. I think that once the zig zag establishes point "C(4)", then the indicator will show the potential CWW pattern.
Exactly ...
  • #1,049
  • May 2, 2017 9:03am May 2, 2017 9:03am
Quoting Exobar
{quote} May wave(iv) reach into span of wave(ii) as long as it does not violate wave(b) of wave (iii)?
From Fractal Forecasting: P8
'The Wave (iv) will not break the Wave (b) of Wave (iii)
and normally not get close.'
Wait, or you will be slaughtered!
  • #1,050
  • May 2, 2017 12:06pm May 2, 2017 12:06pm
GBPUSD DLY Chart:
Looking at 900+ pips to the target area.
Huge R/R ~1:20
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 170502 DLY [1].png Size: 75 KB
Wait, or you will be slaughtered!
  • #1,051
  • May 2, 2017 1:12pm May 2, 2017 1:12pm
GBPUSD MLY Chart:
Might be able to trade it down to the (D)5,
via smaller time frame CWWs
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 170502 MLY [1].png Size: 112 KB
Wait, or you will be slaughtered!
  • #1,052
  • May 2, 2017 2:56pm May 2, 2017 2:56pm
Hi Expo 33,
Tank you so much for this thread and your effort , specially for taking the time to mentoring us, really appriciate it.
I have also a question , wich zone /area you call sweet zone would you be more specific about that? Thanks in advance.
God bless you, Greeting from Europ The Netherland. Cheers Rees.
Human beings are members of a whole, In creation of one essence and sol.
  • #1,053
  • Edited 7:11pm May 2, 2017 6:04pm | Edited 7:11pm
Quoting MrRijk
Hi Expo 33, Tank you so much for this thread and your effort , specially for taking the time to mentoring us, really appriciate it. I have also a question , wich zone /area you call sweet zone would you be more specific about that? Thanks in advance. God bless you, Greeting from Europ The Netherland. Cheers Rees.
Hello Rees. You're welcome brother. God bless you and thanks for posting.

The "sweet" zone as depicted in this diagram is the area
where price breaks through the XB trend line down to the
parallel extension line of AC starting at point B. Sounds
complicated but if you look at the diagram, it's really not.


Attached Image (click to enlarge)
Click to Enlarge Name: wolfe wave diagram.png Size: 30 KB


If you use the indicator that "parviz" so graciously made for us, it basically will map out the sweet zone for you. I wish I had more time at home to explain, but I'll be away form my computer until morning again. Hopefully this helps.

Note: The reversal point D can be anywhere from the original trend line XB down to the yellow extension line. (and sometimes when there is strong momentum, even farther)

Here is a CWW that I entered at the end of last week. I ended up booking 100 pips. It's a good example of price reversing in the sweet zone exactly at the 200FIB extension of BC. Sweet zone highlighted as the blue triangle.

I drew this manually so you can hopefully see the realation to the diagram above

AUD/CHF 4H CWW
Attached Image (click to enlarge)
Click to Enlarge Name: ACHF4.png Size: 73 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #1,054
  • May 2, 2017 6:08pm May 2, 2017 6:08pm
Quoting Uturn2
GBPUSD MLY Chart: Might be able to trade it down to the (D)5, via smaller time frame CWWs Cheers, U2 {image}
This is good stuff mate.

If I were in my 20s I could enter at D in 2022 and set my TP for 10,000 pips for the year 2039!
Pride always comes before destruction.... -Proverbs 16:18
  • #1,055
  • Edited 8:13pm May 2, 2017 7:09pm | Edited 8:13pm
Hi Expo:
I noticed that my indicator does now find many of the CWW wave as defined in his book:
Quote
Rules for Bullish Wolfe Wave Structure Please not the odd sequence in counting, as you will see, it is necessary for the inductive analysis. By starting with a top we are assured of beginning our count on a new wave. The 2 point is a top. The 3 point is the bottom of the first decline. The 1 point is the bottom prior to point 2 (top), that 3 has surpassed. The 4 point is the top of the rally after point 3. The 5 point is the bottom after point 4 and is likely to exceed the extended trend line of 1 to 3. This is the entry point for a ride to the...
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 21 KB

according to this this drawing is a valid CWW , which the indicator would not draw , because X(1) is the first Low when you go back after locating A and B point, indicator would not draw this because, it looks for X according to what the ExtDepth of zigzag dictate.
I will try to find some kind of solution for that ,but it is really difficult to write an algorithm for that....?
I will look forward and appreciate any suggestion.
PS: I know that this makes a reverse (megaphone)WW but it is a valid one and it worked as i noticed in several occasion.and this one :look at zigzag, this one is CWW
Attached Image (click to enlarge)
Click to Enlarge Name: Capture1.PNG Size: 19 KB
  • #1,056
  • May 2, 2017 11:58pm May 2, 2017 11:58pm
Quoting parviz1953
Hi Expo: I noticed that my indicator does now find many of the CWW wave as defined in his book: {quote} {image} according to this this drawing is a valid CWW , which the indicator would not draw , because X(1) is the first Low when you go back after locating A and B point, indicator would not draw this because, it looks for X according to what the ExtDepth of zigzag dictate. I will try to find some kind of solution for that ,but it is really difficult to write an algorithm for that....? I will look forward and appreciate any suggestion. PS: I know...
I'll try to understand this based on my observation. The X point is actually a very grey area. The more clearer the X point is, the stronger is the signal. In your chart, the X point is actually very forceful. You can say that it's there, you can say it's not. It really varies depends on how you define it. For me, it's not there because if you look further to the left of the chart, it was a nice upswing move. You were simply "forcing" an X there for the setup. Yes, if you switch to a smaller timeframe, it might be there but there's really no point trying to squeeze out a trade. ABCD was definitely there but not the X.

I think some examples from bill wolfe himself are also very unclear because he would simply find those charts with weird X placement. Of course, they worked because they were cherry picking them.

In fact, the chart you posted looked like a gartley pattern.

Anyway, correct me if i am wrong. Still learning also.
  • #1,057
  • May 3, 2017 1:00am May 3, 2017 1:00am
Quoting Expo33
{quote} Hello Rees. You're welcome brother. God bless you and thanks for posting. The "sweet" zone as depicted in this diagram is the area where price breaks through the XB trend line down to the parallel extension line of AC starting at point B. Sounds complicated but if you look at the diagram, it's really not. {image} If you use the indicator that "parviz" so graciously made for us, it basically will map out the sweet zone for you. I wish I had more time at home to explain, but I'll be away form my computer until morning again. Hopefully this...
Hi Expo33,
Thank you so much for reply and outstanding explanation. All clear now. Cheers Rees
Human beings are members of a whole, In creation of one essence and sol.
  • #1,058
  • May 3, 2017 4:06am May 3, 2017 4:06am
GBPUSD 2H Chart:
Providing the count is correct,
it's still on track to reach the 4H and DLY CWW zones.
The higher it goes the easier it gets to measure the likely top.
[Expecting a 5 Wave Impulsive rally which can be measured
via wave projections.]
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 170503 2H [1].png Size: 60 KB
Wait, or you will be slaughtered!
  • #1,059
  • May 3, 2017 7:27am May 3, 2017 7:27am
Quoting parviz1953
Hi Expo: I noticed that my indicator does now find many of the CWW wave as defined in his book: {quote} {image} according to this this drawing is a valid CWW , which the indicator would not draw , because X(1) is the first Low when you go back after locating A and B point, indicator would not draw this because, it looks for X according to what the ExtDepth of zigzag dictate. I will try to find some kind of solution for that ,but it is really difficult to write an algorithm for that....? I will look forward and appreciate any suggestion. PS: I know...
I don't have that book but is it possible you're misunderstanding what it says?

What your chart shows is the "anti" wave which I deleted from the thread, see diagram below. But I don't think that's what's being described in the quote you posted from the book. I think he is describing exactly what we have been studying, the CWW
Attached Image (click to enlarge)
Click to Enlarge Name: anit wolf wave.png Size: 15 KB


Taking a quote from what you posted from the book: " The D(5) point is the bottom after point C(4) and is likely to exceed the extended trend line of X(1) to B(3)."

The chart you posted doesn't jive with that statement. Not only does price not exceed line X(1) to B(3) but it doesn't even come close to touching that line at all.

Maybe I am missing something but in any event its best if we stick to the classic Wolfe wave structure as in the diagram on post #1. You're indicator is just perfect for our purposes here.

Thoughts?
Pride always comes before destruction.... -Proverbs 16:18
  • #1,060
  • May 3, 2017 7:39am May 3, 2017 7:39am
Quoting Expo33
{quote} I don't have that book but is it possible you're misunderstanding what it says? What your chart shows is the "anti" wave which I deleted from the thread, see diagram below. But I don't think that's what is being described the quote you posted from the book. {image} Taking a quote from what you posted from the book: " The 5 point is the bottom after point 4 and is likely to exceed the extended trend line of 1 to 3." The chart you posted doesn't jive with that statement. Not only does price not exceed line 1 to 3 but it doesn't even come close...
The book is the same pdf which is on the first post. He suggest and insist, counting the wave in this manner: first look for A then B , then go back and look for X , the low point which point B has surpassed is the X point. Would you please read this phrase again and let me know your idea.
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