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Wolfe Waves - Get in the Zone

  • #1,101
  • May 5, 2017 9:41am May 5, 2017 9:41am
Quoting Uturn2
EURUSD DLY Chart: Wave D(5): From a 5 Wave Impulsive perspective, I can't see that it has peaked. [the gap doesn't help] It may still have some upside to go. Yesterday was extremely Bullish, and today looks like consolidation. Cheers, U2 {image}
I've been on the sidelines for this one. I tend to stay away from WWs that are barely convergent. I feel more confident and comfortable when there is a bigger sweet zone.
Pride always comes before destruction.... -Proverbs 16:18
  • #1,102
  • May 5, 2017 9:44am May 5, 2017 9:44am
Quoting Uturn2
Also, there may be CWWs within the 5 Wave Impulsive Waves. Cheers, U2 {image} {image} {image} {image}
Thanks for the diagrams U2.

Perfectly illustrates WWs as the end point and reversal point of the impulse wave or as the continuation of the impulse wave?

Cheers
Pride always comes before destruction.... -Proverbs 16:18
  • #1,103
  • May 5, 2017 9:55am May 5, 2017 9:55am
Quoting Expo33
{quote} Thanks for the diagrams U2. Perfectly illustrates WWs as the end point and reversal point of the impulse wave or as the continuation of the impulse wave? Cheers
Both cases are trading corrections.
1. The correction after the Impulse Wave
2. The correction within the Impulse Wave
Cheers Kurt
Wait, or you will be slaughtered!
  • #1,104
  • Edited 10:21am May 5, 2017 10:04am | Edited 10:21am
Quoting Uturn2
GBPUSD DLY Chart: Is there a limit that CD can stretch beyond 100% AB? Cheers, U2 {image}
That's a great question and I think it depends on any local confluence. I tend to stay on the side lines when I can't see any real immediate confluence. Especially when the CD leg is beyond the completion level. Also, I think the time frame has a lot to do with it. On this WW it would be reasonable to have a 200 pip SL if we were targeting a 600+ pip TP. (better have super small positions though!) Remember the original theory that Mr. Wolfe stated was based on the "physics" of the wave. For each action there is an equal and opposite reaction. Imagine an elastic band being stretched to the point where the momentum finally stops and then releasing all that stored up energy back in the opposite direction. In relating that to a daily price chart, well, it may take a few weeks for price to run out of momentum and re-balance itself. Unfortunately that may be 200+ pips, hence the super small positions and the scale in option.

We've talked about this WW before.

Sorry my chart is a little busy. In analyzing this wave I see that original big booming bullish candle a couple of weeks ago pushing price right into the AB=CD zone, which also happened to be the 200FIB extension of BC and the 61.8FIB from the overall bigger move. Immediately 100 pip re trace. Then looks like a couple of weeks of accumulation.

No we are testing the BC extension 241FIB. In looking at the Gann Fan and the fact that we are now through the 61.8FIB, it looks like 131 may be in play. Any thoughts of me getting short now are off the table.

I would now only consider scaling in short from 130.50-131.50

Cheers, -Kurt
Attached Image (click to enlarge)
Click to Enlarge Name: gudaily.png Size: 110 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #1,105
  • Edited 10:31am May 5, 2017 10:19am | Edited 10:31am
Thanks for all of the good posts this week everyone. I think we are progressing nicely and have covered some really productive topics.

I'm off to chaperon my daughters kindergarten crew for their final field trip. There is nothing like hanging out with a bunch of sugared up 5 year olds to get your mind right. It makes patience in trading seems so easy in comparison.

Have a great weekend everyone. It should be an exciting week ahead with the French election coming up.

Cheers, -Kurt
Pride always comes before destruction.... -Proverbs 16:18
  • #1,106
  • May 5, 2017 11:02am May 5, 2017 11:02am
Quoting Expo33
{quote} . Any thoughts of me getting short now are off the table. I would now only consider scaling in short from 130.50-131.50 Cheers, -Kurt {image}
Thanks Kurt, agree!
Wait, or you will be slaughtered!
  • #1,107
  • May 6, 2017 2:39am May 6, 2017 2:39am
usdjpym5: is it completed or failed. a bit perplexed
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.png Size: 41 KB
  • #1,108
  • May 6, 2017 4:08am May 6, 2017 4:08am
@Parviz

I'm wondering why the indicator doesn't show this completed CWW?

SILVER DAILY CWW
Attached Image (click to enlarge)
Click to Enlarge Name: SILVER.png Size: 80 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #1,109
  • May 6, 2017 9:25am May 6, 2017 9:25am
Quoting Expo33
Thanks for all of the good posts this week everyone. I think we are progressing nicely and have covered some really productive topics. I'm off to chaperon my daughters kindergarten crew for their final field trip. There is nothing like hanging out with a bunch of sugared up 5 year olds to get your mind right. It makes patience in trading seems so easy in comparison. Have a great weekend everyone. It should be an exciting week ahead with the French election coming up. Cheers, -Kurt
Thanks for coaching this week and have a nice weekend . cheers Rees
Human beings are members of a whole, In creation of one essence and sol.
  • #1,110
  • Edited 10:35am May 6, 2017 10:23am | Edited 10:35am
Quoting Expo33
@Parviz I'm wondering why the indicator doesn't show this completed CWW? SILVER DAILY CWW {image}
Hi :
The indicator always look for and takes the last newly developed five zigzag points as the basis for analysis , in your picture at least 4 new zigzag point has been developed after the D(5) point already, i am sure that it has found it before when the 5th point was newly developed.
  • #1,111
  • May 6, 2017 10:43am May 6, 2017 10:43am
Quoting fantom
usdjpym5: is it completed or failed. a bit perplexed {image}
OH yes that is far from the standard definition of classic WW, are you using the last version 8.5 ?, if it is so then i have posted it by mistake ,indeed that was the version that i was keeping for myself just to check how far the CD may extend as an experimental version. If it is version 8.5 then i will replace it, so that it doesn't cause any confusion....
  • #1,112
  • May 6, 2017 11:33am May 6, 2017 11:33am
Hello Kurt,
Thank you for a really nice thread. You and Parviz are doing a great job trying to help us all make some Money.
I have a question regarding Gann fan. How do you determine where to put your start, and where/how do you spread itīs "wings"?

Best regards
Greger
  • #1,113
  • Edited 1:43pm May 6, 2017 1:01pm | Edited 1:43pm
Quoting Guran01
Hello Kurt, Thank you for a really nice thread. You and Parviz are doing a great job trying to help us all make some Money. I have a question regarding Gann fan. How do you determine where to put your start, and where/how do you spread its "wings"? Best regards Greger
Hi Guran01.

The first thing you need to know is that the Gann fan I'm using is actually the Fib Fan tool with modified inputs. I'm fairly inexperienced at using Gann fans but from doing some research it's necessary to have you're chart "squared" so the levels stay true.

Basically, you need to put a fib fan on your chart and then add these levels and description (the levels are the angles that have been converted into radians)

Then, use the "trend line by angle" tool to put a 45 degree line on your chart from the starting point you want to use. Then use that new modified fib fan and make sure the 1x1 line is on the 45 degree line.

Where you draw them is subjective. Bigger time frames I believe carry more significance.

I made this chart so it would be easy for anyone interested.Here are the levels you need to add to your fib fan tool with matching descriptions:
Attached Image


I know this chart is a bit cluttered but here is an example of one I'm looking at for this week. I have one fan from the bigger wave down and one from the most recent wave down

EUR/GBP 4H CWW SET UP
Attached Image (click to enlarge)
Click to Enlarge Name: eg4.png Size: 96 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #1,114
  • May 6, 2017 1:17pm May 6, 2017 1:17pm
Thanks Kurt
I have put the numbers in, and will test it in different charts. Once again thanks for all the help.

Regards /Greger
  • #1,115
  • Edited 2:06pm May 6, 2017 1:43pm | Edited 2:06pm
Quoting Guran01
Thanks Kurt I have put the numbers in, and will test it in different charts. Once again thanks for all the help. Regards /Greger
You're welcome mate.

Taking the WW indicator off the chart and just looking at the Gann fans with previous S/R, well that would be a short trade in itself. When time and price and intersect that precisely, one has to wonder, is it a coincidence? Many traders will say that all those silly lines mean nothing but I beg to differ.

Attached Image (click to enlarge)
Click to Enlarge Name: eg.png Size: 69 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #1,116
  • May 6, 2017 1:46pm May 6, 2017 1:46pm
Quoting parviz1953
{quote} Hi : The indicator always look for and takes the last newly developed five zigzag points as the basis for analysis , in your picture at least 4 new zigzag point has been developed after the D(5) point already, i am sure that it has found it before when the 5th point was newly developed.
Thanks Parviz.

As an example here: It still shows an old wave. Is it because it broke down at point C. Just curious why it still shows up
Attached Image (click to enlarge)
Click to Enlarge Name: uc.png Size: 80 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #1,117
  • Edited 3:30pm May 6, 2017 3:13pm | Edited 3:30pm
Quoting Expo33
{quote} Thanks Parviz. As an example here: It still shows an old wave. Is it because it broke down at point C. Just curious why it still shows up {image}
Hi Kurt:
Just one zigzag has been formed after the D(5), apparently the zigzag algorithm still does not believe a well formed swing point is formed....?!!
You know some of these problem are not mine, my indicator just gets the last 5 point which is in zigzag buffer and do the calculation on that basis, in your chart the last point in zigzag buffer was the D(5) point, may be a few minute later, as soon as it appears in the buffer it will be changed,and it will not be shown any more...!? (the new zigzag point as the 5th one ,does not fit CWW definition any more)
  • #1,118
  • May 6, 2017 4:51pm May 6, 2017 4:51pm
Quoting parviz1953
{quote} Hi Kurt: Just one zigzag has been formed after the D(5), apparently the zigzag algorithm still does not believe a well formed swing point is formed....?!! You know some of these problem are not mine, my indicator just gets the last 5 point which is in zigzag buffer and do the calculation on that basis, in your chart the last point in zigzag buffer was the D(5) point, may be a few minute later, as soon as it appears in the buffer it will be changed,and it will not be shown any more...!? (the new zigzag point as the 5th one ,does not fit CWW...
I definitely don't look at it as a "problem". I was just curious. The indicator functions beautifully and is immensely helpful!
Pride always comes before destruction.... -Proverbs 16:18
  • #1,119
  • May 6, 2017 6:26pm May 6, 2017 6:26pm
Finally after about a month of coding and recoding this is the new ParvizCWW indicator, as it is seen in the name, it is just a trial version, only for those who are interested to help me in improving it.
Please don't trust it , I know that it has still many bugs, and deficiencies, just try it and compare its finding with the standard, bug free version 8.5, and let me know the results.
Writing the code is one story and finding the bugs is another more time consuming process, i alone can not find and fix all, it needs your cooperation.
Attached File(s)
File Type: ex4 parvizCWW Trial ver.ex4   72 KB | 364 downloads
  • #1,120
  • Edited 6:55pm May 6, 2017 6:37pm | Edited 6:55pm
Quoting parviz1953
Finally after about a month of coding and recoding this is the new ParvizCWW indicator, as it is seen in the name, it is just a trial version, only for those who are interested to help me in improving it. Please don't trust it , I know that it has still many bugs, and deficiencies, just try it and compare its finding with the standard, bug free version 8.5, and let me know the results. Writing the code is one story and finding the bugs is another more time consuming process, i alone can not find and fix all, it needs your cooperation. {file}
I forgot to mention how it is working:
1) It automatically looks and find every possible CWW (Potential and Completed), for all 6 ExtDepth that you entered in the input.
2)It draws all findings on the same chart and assign a clickable button for each of them.
3) you can view and have the characteristic of any of them by clicking its button.
4)Since the indicator halts after each new run, whenever you like you can force it to research again by clicking the corresponding "SEARCH AGAIN" button.
5)Below is an example chart of GBPUSD 15 minute chart.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD M15.PNG Size: 67 KB

6) And this one is after clicking the 20-complete button.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 42 KB

7) And at the end, please ,please don't forget, i am not a professional programmer, if there are problems and shortages, it is that i am just learning to code.
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