KISS like McGrath

[Ajax]

hey Ajax...Check this out..Hourly chart of HDIL...Is this a Bullish WW? Please confirm.

Everything Ok but for point A ... why have u drawn... what u have
drawn and why have u choosen to ignore preceeding bar which is
also low of the day..............??:annoyed:

 

[moto143]

There was a bit of confusion ...I mean regarding point A...I have read that point A will be mostly during retrospect in your Presentation..inst the second bar on 9nth confirms retrospection ?

Anyhow i have redrawn the chart...please have a look and please correct if there are more mistakes.

thanks.

 

[taqtrader]

moto for your reference the basic WW structure has to be like this
now compare your chart you will get your answer.

 

[Ajax]

There was a bit of confusion ...I mean regarding point A...I have read that point A will be mostly during retrospect in your Presentation..inst the second bar on 9nth confirms retrospection ?

Anyhow i have redrawn the chart...please have a look and please correct if there are more mistakes.

thanks.

Exactly , this is what I wanted to hilight.
PPT also tells you.. people draw point A as per there convience.
What u drew is perfect wolf set up, but for that preceeding bar.

Now u have re-drawn the line... see how perspective changes from
so called bullish wolf to a triangle formation with breakdown
creating a new low.

See how the stock follows..:thumb:

 

[trader4life]

A great thread.I,sincerely cannot find words to compensate your efforts.

 

[moto143]

am already Holding HDIL at 271 ...let's see how it moves.

 

[kindman]

Seniors can i ask one questing....

How wolf wave works?? Whats its mechanics??

I am waiting for good reply....

 

[Ajax]

Seniors can i ask one questing....

How wolf wave works?? Whats its mechanics??

I am waiting for good reply....

Down load PPS files from links given above...
:thumb:

 

[kindman]

Ajax sir... Thanks you ....
Its just graphical representation ... Which shows setup /identification of
wolf wave...

My que is not about identification or setup...

Whats its mechanics?? How it works...... Can anyone explain it in price volume action???

(my que may be foolish ... Then leave it continue your work... Dont reply just forget.... Thank you)

 

[taqtrader]

Seniors can i ask one questing....

How wolf wave works?? Whats its mechanics??

I am waiting for good reply....

WOLFE WAVES are a 5 point pattern with the target line connecting 1 and 4. Rasche called it 3 indians, but bill wolfe coined the pattern originally. His site might be the best place to investigate it.
Understanding how this pattern works, the dynamics behind it, can spark some really interesting insights on how markets work.

This is a killer trade when it sets up.

In classical TS, this is a rising wedge which usually means a quick bearish drop is imminent (if you draw the line from point 2 through point 4 along with 1 through 3, you'll see the wedge). This wedge has a target of going back to point 2. This is all in Edwards and Magee's book, very well explained.

I am not the best instructor, but there is info out there on this pattern. If you are a visually oriented trader, this is a very valuable pattern to know.
Guarantee you the professionals see this, it is a contrarian pattern so creates a quick and powerful move.

The trick is to be able to see it developing as it happens.

And if you want to sprinkle in some Elliott Wave into this...

the rising wedge will only appear at the end of the 5th wave. If you're in the 5th wave and you start seeing overlapping subwaves, this is where doing the Wolfe projections can really pay off. These subwaves will only be 3 wave patterns...thus all the overlapping. Like I said, the drop that occurs after a rising wedge can be very sharp and quick.

Now we have 3 theories that confirm this pattern, that means it's bound to have high probability of working!