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Wolfe Waves - Get in the Zone

  • #1,481
  • May 26, 2017 6:27am May 26, 2017 6:27am
Quoting Expo33
{quote} Looks like first level has broken. I'm liking the looks of the WW you posted. It's right at the 50FIB from the larger move and also right at the 4x1 Gann fan line. I've got 20 scaled in micro limit orders ready. TPs to be adjusted if positions get filled. Maybe today, or maybe next week it will happen. GBP/CAD 4H CWW {image}
Carefully, i have also some micro order ready , hopefully we will rich the target next week.Cheers
Human beings are members of a whole, In creation of one essence and sol.
  • #1,482
  • May 26, 2017 6:57am May 26, 2017 6:57am
Quoting Expo33
Soldiers ready for battle......... EUR/GBP 4H CWW {image}
Short at 0.8714
[0.9 pip spread was a pleasant surprise;
not one that I usually trade]
Thanks for the TA Kurt!
Wait, or you will be slaughtered!
  • #1,483
  • May 26, 2017 8:30am May 26, 2017 8:30am
Quoting Uturn2
{quote} Short at 0.8714 [0.9 pip spread was a pleasant surprise; not one that I usually trade] Thanks for the TA Kurt!
EURGBP

Just gone short at 8745.2
Looking at the daily chart we can see 2 measured moves just completed. The red lines on the right show the MM based on the BC leg and the one on the left shows a logical buy above a bull signal bar with the logical price action stop at the low of the preceding strong leg.

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  • #1,484
  • May 26, 2017 8:52am May 26, 2017 8:52am
Quoting salamanda74
{quote} EURGBP Just gone short at 8745.2 Looking at the daily chart we can see 2 measured moves just completed. The red lines on the right show the MM based on the BC leg and the one on the left shows a logical buy above a bull signal bar with the logical price action stop at the low of the preceding strong leg. {image}
I went too early and was stopped out.
Will take another look Monday.
Cheers, U2
Wait, or you will be slaughtered!
  • #1,485
  • May 26, 2017 11:23am May 26, 2017 11:23am
Hello everyone,

I leave here the link to an article posted on the MQL5 website referring to Wolfe Waves
https://www.mql5.com/es/articles/3131

Regards
  • #1,486
  • May 26, 2017 1:25pm May 26, 2017 1:25pm
Quoting Uturn2
{quote} Short at 0.8714 [0.9 pip spread was a pleasant surprise; not one that I usually trade] Thanks for the TA Kurt!
Good luck to us.

My entire zone got filled up from .8722-8742. So far the soldiers have defended their ground. I thought about booking the little profit as it has been an amazing week, but instead I'll keep this open into next week

Cheers, -Kurt
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Pride always comes before destruction.... -Proverbs 16:18
  • #1,487
  • May 26, 2017 1:26pm May 26, 2017 1:26pm
Quoting salamanda74
{quote} EURGBP Just gone short at 8745.2 Looking at the daily chart we can see 2 measured moves just completed. The red lines on the right show the MM based on the BC leg and the one on the left shows a logical buy above a bull signal bar with the logical price action stop at the low of the preceding strong leg. {image}
Nice. It looks like you got an excellent entry price!
Pride always comes before destruction.... -Proverbs 16:18
  • #1,488
  • May 26, 2017 1:31pm May 26, 2017 1:31pm
Quoting mrvgikl
Hello everyone, I leave here the link to an article posted on the MQL5 website referring to Wolfe Waves https://www.mql5.com/es/articles/3131 Regards
Hola mrvgikl.

Gracias por compartir esta informacin. Ten un buen fin de semana!
Pride always comes before destruction.... -Proverbs 16:18
  • #1,489
  • May 26, 2017 1:35pm May 26, 2017 1:35pm
Quoting mrvgikl
Hello everyone, I leave here the link to an article posted on the MQL5 website referring to Wolfe Waves https://www.mql5.com/es/articles/3131 Regards
what a nice article, thanks a lot sir....
  • #1,490
  • May 26, 2017 1:35pm May 26, 2017 1:35pm
The only other trade I'm holding over the weekend. This has filled up and held it's ground. I think this is encouraging considering oil rebounded about $1.70 in the last 7 hours

GBP/CAD 4H CWW
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Pride always comes before destruction.... -Proverbs 16:18
  • #1,491
  • May 26, 2017 9:31pm May 26, 2017 9:31pm
Busy week ahead. Trying to get some get some setups prepared early.

AUD/USD 4H CWW - POTENTIAL SETUP
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Pride always comes before destruction.... -Proverbs 16:18
  • #1,492
  • May 27, 2017 2:28am May 27, 2017 2:28am
Quoting Expo33
{quote} Good luck to us. My entire zone got filled up from .8722-8742. So far the soldiers have defended their ground. I thought about booking the little profit as it has been an amazing week, but instead I'll keep this open into next week Cheers, -Kurt {image}
hehe! fixed a ea bug with will lead to closing at wrong price!

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Next week i will start my revenge!
No one wants to be defeated~
  • #1,493
  • May 27, 2017 6:38am May 27, 2017 6:38am
GBPJPY daily may be setting up something quite appealing.

The bull move I am looking at will hopefully meet support in the circled area on the left. The 14212 Breakout above a prior swing high has already been tested and there were buyers there. I'm hoping there is a little more left in the bear move so that the BC measured move completes down to the 14131 area. This is also a decent support area and the worst case from the point of view of a stop would be the 14000 level, but lower timeframe price action and measured moves may give a better idea if and when the time comes. Also a >50% retracement of the prior bull move would take us to a level below 14186 which then becomes more attractive for bulls. This is also a decent support area and the worst case from the point of view of a stop would be the 14000 level, but lower timeframe price action and measured moves may give a better idea if and when the time comes.

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And with Gann Fan on (I don't know how to use this properly as Kurt does (more reading to do on my part) but I think this works. Kurt will have to correct me if I'm wrong, but I think the Fan implies that one could expect to meet support around the 14100 area as things stand just now (?)

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I like this possibility for other reasons too.
The weekly chart shows a strong Bull breakout in the shaded area and this should give rise to some sort of measured move and there are numerous possibilities based on buy-the-close bulls with a stop below the low of the bull trend or possibly the open of the week 45 breakout bar to the close of week 48 strong bull bar - who knows just now?! Maybe there'll be one or more legs down from here (to maybe form a 3-push bull flag on the line shown) before the resumption of the bull move, if it does indeed resume. The 14000 area on the weekly chart is showing decent support as the signal bar high (ie where the bulls entered before) is shown.

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Cheers,
Stuart
  • #1,494
  • May 27, 2017 9:32am May 27, 2017 9:32am
I am very surprised that Parviz Indi has not be turned into an EA. I feel it would be interesting to see.
  • #1,495
  • May 27, 2017 10:36pm May 27, 2017 10:36pm
Quoting salamanda74
GBPJPY daily may be setting up something quite appealing. The bull move I am looking at will hopefully meet support in the circled area on the left. The 14212 Breakout above a prior swing high has already been tested and there were buyers there. I'm hoping there is a little more left in the bear move so that the BC measured move completes down to the 14131 area. This is also a decent support area and the worst case from the point of view of a stop would be the 14000 level, but lower timeframe price action and measured moves may give a better idea...
Hi Sal.

I like the analysis and yes, your Gann fan looks right to me.

This setup brings up the discussion we had before in regards to where is a valid starting point for "X". I think it's a personal preference for each trader. If it works, that's all that really matters. For me, I like to have my starting point be at least a distinctive minor high or low.

Just a side note. I only use the New York close for candles (damn self centered Yanks!). I noticed your candles are noticeably different than mine. I'm curious what broker/platform you are using?

Notice the difference right where the unfilled gap is
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Pride always comes before destruction.... -Proverbs 16:18
  • #1,496
  • May 27, 2017 10:44pm May 27, 2017 10:44pm
Quoting GoldenEmpire
I am very surprised that Parviz Indi has not be turned into an EA. I feel it would be interesting to see.
I'm not sure it would be that simple. Personally I'm not a huge of EAs to begin with. That's not to say they don't have value or don't work. I just like to set everything up manually.

Sure, you could make an EA that just enters a trade as soon as the AB=CD price hits within a valid WW, but how would you account for any type of confluence. For every valid WW there are more reasons to NOT trade it than there are TO trade it.

Maybe others will chime in with there thoughts on this
Pride always comes before destruction.... -Proverbs 16:18
  • #1,497
  • May 28, 2017 4:58am May 28, 2017 4:58am
Quoting Expo33
{quote} Hi Sal. I like the analysis and yes, your Gann fan looks right to me. This setup brings up the discussion we had before in regards to where is a valid starting point for "X". I think it's a personal preference for each trader. If it works, that's all that really matters. For me, I like to have my starting point be at least a distinctive minor high or low. Just a side note. I only use the New York close for candles (damn self centered Yanks!). I noticed your candles are noticeably different than mine. I'm curious what broker/platform you...
Hey Kurt,
I use IG index and their free access to ProRealTime charts. That is why I struggled to take a look at Parviz' indicator so had to set up a demo account just to check it out.
With respect to the chart timeframes, I dislike the differences. As I trade FTSE price action on lower timeframes I really like the 8am open and the 16:30 close because it gives the day a certain structure. The globex session drives me nuts as some of the daily price action is affected by the globex session, whereas channels and patterns often carry though from the close of the prior day to the open of 'today' and you don't see that if you have the globex chart up so it is generally more work than it should be to rationalise the price action. I have come to the conclusion that it shouldn't matter because whichever chart is being traded needs to make sense so if a daily session channel line is providing support, there is always another reason that should be apparent on the globex chart. Ok, so I've gone off on one a bit there - sorry! The message I guess is that it shouldn't matter. Gaps are just spikes, climaxes, trend bars. I just mentally fill in the gaps with a trend bar. I could probably elaborate on that at some point if you wanted me to.
Yes, I've seen the discussion about what constitutes a valid start point or point X and can see that it is in the eye of the beholder and neither way is right or wrong. If it works for 'you' then it is right for you. I wasn't actually looking for Wolfe Waves when I saw this GBPJPY possibility; I was looking through some HTF charts trying to identify potential setups for a different strategy and then I noticed this WW setup so maybe it doesn't look as appealing to a WW trader, but from a PA perspective there's the potential to structure some nice trades.
Cheers
Stuart
  • #1,498
  • May 28, 2017 6:44am May 28, 2017 6:44am
Hello expo and hello to all other users :-) I am really happy to have found this strategy and you guys. I have already spent many hours exploring WWs and it is huge fun. But I wanted to ask if someone can take the time and explain me the fibo lines! So where do I put them in and how do I interpret them?

Thank you for your answers! :-)
  • #1,499
  • May 28, 2017 12:35pm May 28, 2017 12:35pm
Quoting Michitsch23
Hello expo and hello to all other users :-) I am really happy to have found this strategy and you guys. I have already spent many hours exploring WWs and it is huge fun. But I wanted to ask if someone can take the time and explain me the fibo lines! So where do I put them in and how do I interpret them? Thank you for your answers! :-)
Hi there and welcome to Expo's quality WW thread!

It has been said that people don't trade the markets; they trade their beliefs about the markets. So first you have to ask yourself if you believe that Fib numbers have any use in the markets. If you do then you can probably trade them, but ask yourself why do you believe in them. I know that Expo, or Kurt, among many others believe in these % extensions (that for some reason get labeled as Fibos but I'm not sure what the numbers actually have to do with Fibonacci sequence!- if they do then can someone please enlighten me) and from what I have seen they are useful to them and can help traders who believe in them to attach a structure to their trading set ups with respect to how they scale in to trades or where they place their stops. This is a powerful thing, as a strategy and set up you believe in and can trade without question is worth its weight in gold. I am probably in the minority of traders who don't find 'Fib' numbers useful in their trading because they don't have any statistical significance and are as good as / no better than any other numbers you may care to conjur up. That is my belief and you may not find it useful. I believe that looking for support and resistance levels and zones to the left on the chart and trying to find areas of confluence with forms of leg 1 =leg 2 (measured) moves - these are areas of self-fulfilling prophecies that generate their own support / resistance because bulls will go long / buy back their shorts and at the same time bears will go short / sell out of their longs - in the recent past gives the best chance of success and I use these areas to structure my trades.

I do not mean to antagonise anyone and I make no judgement on what other people believe. There are many ways to trade in general and certainly many ways to trade Wolfe Waves. 'Fibos' may provide you with the answer, but if they don't then it is certainly possible trade without them.

Cheers,
Stuart
  • #1,500
  • May 28, 2017 12:47pm May 28, 2017 12:47pm
Quoting salamanda74
{quote} Hi there and welcome to Expo's quality WW thread! It has been said that people don't trade the markets; they trade their beliefs about the markets. So first you have to ask yourself if you believe that Fib numbers have any use in the markets. If you do then you can probably trade them, but ask yourself why do you believe in them. I know that Expo, or Kurt, among many others believe in these % extensions (that for some reason get labeled as Fibos but I'm not sure what the numbers actually have to do with Fibonacci sequence!- if they do then...

Many Thanks Stuart for your quick and detailed answer! Your information will help me in my work with WWs very much!
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