KISS like McGrath

[taqtrader]

hi ajax i am new to this forum but not new to trading

i was going through the bill wolfe sites and i find these .

in your charts your point 5 is way beyond the actual structure
how much tolerance level you are accepting for point 5 ??

 

[winstonn]

I think wolfe waves are Really Robust pattern occuring naturally in all markets,
all time frames.
Only key is to patiently identify correct setups.....

see below is recent one from GBP / JPY 15min.


Target is a Ray.
Ray is build in this way.....
1) look for the last candle of wave 4.
2) Draw trendlines from i)wave 1 to wave 4 ( high of last candle of wave 4)
ii) wave 1 to wave 4( low of last candle of wave 4)

This gives us the flexible target..........and saves us from the behaviour of Fixed targets.

Regards,
Winston

 

[Ajax]

hi ajax i am new to this forum but not new to trading

i was going through the bill wolfe sites and i find these .

in your charts your point 5 is way beyond the actual structure
how much tolerance level you are accepting for point 5 ??

The 'V' shape at point 5 is self explanatory.
Buy above point 5 .. and if goes below a-c-e.. line . U exit
However, if it quickly retraces back above a-c-e line.. its a robust
pattern and can be bot again.

In fact when I was learning wolfs this 'V' caused lots of heart burn to me
It would go down .. hittin SL and then retrace all the way up to epa.

 

[beethoven]

Winston,

This interpretation is something new to me (EPA Ray - flexible target). If that bar on wave 4 is a wide bar then the ray will diverge over a very big area.

Bee

 

[winstonn]

Winston,

This interpretation is something new to me (EPA Ray - flexible target). If that bar on wave 4 is a wide bar then the ray will diverge over a very big area.

Bee

EPA RAY concept is to protect the profits.
When the wolfe wave is a part of retracement.........no need of EPA ray
But when the ww is part of continuing trend.....we need EPA RAY as we are trading counter trend.

In Bullish ww which is counter trend, once the price is approaching the EPA,
we are not sure that the target will be hit as we are positioned against the trend. Thus observe the Special candle which closed above the lower Trendline of EPA Ray. If then the candle closes below the low of this Special candle liquidate ur position and dont wait for the original EPA Target.
Again i say EPA RAY is only applicable when u r positioned against the preceeding trend.

Reverse the rules for Bearish setup.

For your query, if the last candle is wide.......yes then the ray will diverge......
then we will look for the Ray from high to close or high to mid point of wide bar. Actually EPA Ray is somewhat Discretionary concept

Regards,
Winston

 

[beethoven]

Thanks Winston, Great !!! Look forward to many such posts.
Bee

 

[winstonn]

Bee

Bee is so so cute name.................:beer:

 

[beethoven]

Bee is so so cute name.................:beer:

Cute??!!!! Seems sissy. It was not meant to be like that

Thanks anyway. Look forward to your posts here and at "the fight----" thread.

Bee

 

[milind]

Somebody had posted this one earlier. Time symmetry not exactly, ratios also little bit off. Will it crack lower TL?

EDIT: Looks like TL was broken. Now a down move, retest and then more down?

 

[Ajax]

Bearish wolf meets target and rebounds. :risehat:

Today, Ray concept of 'epa' so 'sceamingly' highlighted. :clap2:

NF just kissed upper part of 'epa' ray and rebounded
& never looked back. arty:

Can this wolf become an "AJAX" wave now.. :anyone: