KISS like McGrath

[Ajax]

Dear opensky

Just look @ the charts I download from the sites u mentioned.
Symmetry is very much in evidence here...
If u cant apperciate symmetry in these charts, u need to learn more

Dont go by what Mr Wolfe has to say.. according to him he has never seen a properly drawn wolfe wave. He has vested interest in saying so. His course
costs $3000 to any one who is not willing to learn by himself .
Refer to my correspondance with him in this thread or in ' Simple ways to identify wolfe wave ' by Winstonn

Just follow & master basics from wolfewave.com or from winstonn's thread

regards

Ajax

 

[RSI]

Re: Questions regarding wolfe wave symmetry

Why are all the wolfe wave examples on wolfewave.com wedges
are all wolfe waves supposed to be wedges???
Can you show me an example of a wolfe wave that is not a wedge on wolfewave.com?

what about this wave
http://www.chart.nu/ES_intraday_01210_ww.gif
waves 0-1 4-5 are symmetrical price and time
1-2 and 3-4 are also perfectly symmetrical price and time!!
Is this a wolfe wave??
This particular chart pattern has superior symmetry compared to the wolfe wave posts on wolfewave.com
why are such posts not on the top examples of wolfe wave.com if indeed
symmetry is the key to a wolfe wave??

Regards,
Raja

I am not an expert in wolfe waves. I am also studying it just like you. Therefore, pending the reply from original wolfe wave experts, I venture to answer some of the points raised by you.

1. The chart posted by you, IMHO does not amount to wolfe wave. Beacuse high of one candle in wave 3-4 is way above the point no. 3. Remember, point no. 3 must be the high of the swing and all candles up to point no. 4 must have their high below point no. 3

2. Why wolfe wave happens in wedges only? Because, the way definition of point no. 1, 2, 3 and 4 are given only possible structure is wedge.
Regards
R. S. Iyer

 

[marcus]

wolfe dosen't solely occur in wedges it could even occur in triangle like formations (see fig 3 of the invetopedia article points 2 & 4 are ALMOST equal) but winston says the failure rate is high and I'm sure he is speaking from past experience. I guess the whole problem is there is no set of rules to identify a wolfewave, its very subject like any other pattern information, there can be NO definitive rules. All the The discoverer of the pattern says in public is

Please note 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 reverse would apply for a bearish 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 EPA line (1 to 4).


Estimated Price at Arrival (EPA) is trend line of 1 to 4 at apex of extended trend line of 1 to 3 and extended trend line of 2 to 4.


Estimated Time of Arrival (ETA) is apex of extended trend line of 1 to 3 and 2 to 4.

Perhaps he's retained the specifics to sell in his course and $3000 cyclostyled personal manual.

I agree with winstonn in that it is well worth researching the reward to risk ratio is extremely attractive I wish someone in here had access to Mr. Wolfe's manual, this would help us all immensely.

 

[opensky]

hi all,

i think to which everyone agree is that 1-3-5 shd be a trend line and 4 shd not be lower to 2 and shd end somwhere between 1-4 .

now the only point of conflict or debate is shd time intervals between 1-3 and 3-5 shd also be same or symeeterical or even when time consumed between 1-3 is more than 3-5or vive versa will form wolfe or

even when in some cases as dicussed on wolfe wave .com where the peak of 5 exceeds 1-3 trend line will still it be a vaild wolfe .

i think it is still a mute question which is not yet answerd by anyone yet on this form to my knowledge,

but to say that if 1-3 and 3-5 lack time intervals symettery it is not a wolfe at all taking into account that the original website procalims that it will qualify as wolfe.

what i still feel that if there is symettery in time intervals 1-3 and 3-5 the chances of hitting the Ep and Et is more as comapred to some which lack that symettery .

i still think we need someone who really has done course or someone who must have backtested all of them to find whether they all qualify for famous wolfes or it is just that symettery in time frames is qually imporant as other parametrs.

lets hope to find that solution fast before this debate goes on and on n yes the early we all find the better for all of us .

 

[Ajax]

Hi all potential wolves!!!!!!!!!!!!!

phew!!!!!!!!

This thread was supposed to keep things simple....

Annyway... one last time I am posting a perfect bullish wolfe on
Nifty 1 minute chart. It has everything that goes on to make a perfect wolfe
Study this only, and nothing else. U will get all the answers u need.
epa was reached the next day
No oscillators, no idiot sorry elliot waves, nothing. Only price action

Regards

Ajax

 

[RSI]

Hi all potential wolves!!!!!!!!!!!!!

phew!!!!!!!!

This thread was supposed to keep things simple....

Annyway... one last time I am posting a perfect bullish wolfe on
Nifty 1 minute chart. It has everything that goes on to make a perfect wolfe
Study this only, and nothing else. U will get all the answers u need.
epa was reached the next day
No oscillators, no idiot sorry elliot waves, nothing. Only price action

Regards

Ajax

Truly amazing. How did you get the Nifty Chart of 28 June 2007 on 12 June 2007?

 

[Ajax]

Hi RSI

Thats what wolves do.... sniff out the real stuff when others
engulf themselves with exotic stuff.
KISS it baby
Ajax

 

[uasish]

All Beware Wolfe's are Howling

 

[kindman]

Ajax Nice Chart Friend ... Good
Wolf Pattern Works Perfect...

 

[marcus]

Annyway... one last time I am posting a perfect bullish wolfe on
Nifty 1 minute chart. It has everything that goes on to make a perfect wolfe
Study this only, and nothing else. U will get all the answers u need.
epa was reached the next day


Ajax

Ajay this time all of Mr. Wolfe's rules the ones he has publically divulged are complied with and sure enough the target is reached the chart you posted also has the advantage of symmetry, in case you come across anycharts which conform to all of Mr. Wolfe's original rules but are not symmetrical please do post them, it would be a great eye opener for all of us regarding the symmetry question which the invetopedia article says but not Mr. Wolfe.