KISS like McGrath

[Ajax]

hey Ajax...Check this out...Hourly ONGC chart..Looks like a Bullish Wolfe in the making.
I think a positive candle is needed for confirmation..right?..am simply loving wolfe waves and tech analysis.

Hey..I think i have got some idea how to estimate the target price using WW but is there any way by which we can predict the time it takes to reach the target?

He he. moto u r getting greedy.

If u get one variable right with confidence (thats epa)
all u need is a little patience..

As I said some where...

Aayega aney wala ayegaa. Jaroor ayega
Sabr ka ful ( Pehle khattaa, phir mithha)

No one can stop the idiea whose time has come.

Properly identified wolfe is one such idea. :thumb:

 

[moto143]

hey.

Am not getting greedy mate! i can't even trade due to academic constraints. I'm too excited about wolfe waves..So excitement levels pumps up whenever i see a pattern..

 

[moto143]

Bullish wolfe in the making??????????

 

[moto143]

----Post deleted-------

 

[beethoven]

Moto,

Great to see your enthusiasm :clap:. Keep it up :thumb:. TA and trading is a passion.

Bee

 

[moto143]

thanks mate!! yap TA is a passion for me these days especially wolfe waves.So most of the days am scanning for it in different time frames.

Thanks to Ajax who has given me a lot of support and encouragement.

 

[moto143]

Hi ajax.

i traded the setup and bought ICICI at 708 and placed the SL at 693. target was 760. But SL got hit and price started to move in the direction of target.
was my decision to place SL at 708 correct?

Bullish wolfe in the making??????????

 

[MurAtt]

Trading WWs

Dear Moto,

Just my 2 cents .....

I did see the WW post by you BUT did not trade BUT yes I traded the Infy WW for a very small profit. Had I waited I would have gained much more. I am much more comfortable in Nifty.

Re the above post - Since u are pretty new to WW (of course u have no gained a lot of insight) - or rather trading itself I would suggest not to trade the WW setup this early. Wait for the price to move up and then take a position -- maybe a little bit of lesser profit BUT a good nights sleep.

Also remember unless and until u r very very sure abt a trade DO NOT CARRY FORWARD on weekends.

 

[moto143]

thanks buddy! you are right...I need to get some more expertise before trading WW.
Maybe a bit of paper trading would help i guess.

well, the reason why i don't trade after price moves a bit higher is that the stop losses would be deep in such cases which would mean that the loss would be huge if stops get's hit.

I don't trade Nifty since am too new to trading and right now my capital does not allow me to step into futures.

thanks again for your views

 

[MurAtt]

Trading WWs

thanks buddy! you are right...I need to get some more expertise before trading WW.
Maybe a bit of paper trading would help i guess.

well, the reason why i don't trade after price moves a bit higher is that the stop losses would be deep in such cases which would mean that the loss would be huge if stops get's hit.

I don't trade Nifty since am too new to trading and right now my capital does not allow me to step into futures.

thanks again for your views

What I meant was to trade but when the price starts rising towards the target. Then the SL would be deep BUT now u r comfortable bcoz the target would now be hit as the WW is now confirmed AND WW Failures are Rare.

For instance see Infy, I bot a 1770 call when it was 1720 @31. I sold when it was 1740 @ 37 = Profit = 6x200=1200 less brokerage 200=1000 even when the mkt was down by 300 odd Nifty . If held more then would have given at least 1K more but as I said I am more comfortable with Nifty.

Trading CE/PE/CA/PA is more easier bcoz of risk definition - max u lose is the price of the call/put u paid but time decay is there.