simple steps to identifty Wolfe

[learn2trade08]

dear winstonn/ajax/darsh or any senior member...
time and again there is mention of symmetry in wolfe wave but when we take a look closely on linda bradfords book on ww or even ww dotcom for that matter the charts are not symmetrical...
can anyone help me out please..I know for sure that most of your charts where there is time symmetry have often worked,but sincerely i am a bit confused here....
thanks
[img=http://img139.imageshack.us/img139/8163/lindaod7.th.jpg]
[img=http://img382.imageshack.us/img382/5185/lindaej3.th.jpg]

Hi friends,

i am posting two charts of same daily data for Rcom.

chart one is how all bearish rules were followed and bearish target was achieved.

another chart shows that if rules are not obyed, how can a chart fail and wolfe wave is blammed. In this chart there are three wrong things:

1) point 5 did not touch 1-3 trendline
2) 1-3 TT and 2-4 are diverging instead of converging.
3) There is no symmetry between points 1-3-5.

This chart is for learning purpose.

Happy Trading,
Winston

 

[darsh_goswami]

dear winstonn/ajax/darsh or any senior member...
time and again there is mention of symmetry in wolfe wave but when we take a look closely on linda bradfords book on ww or even ww dotcom for that matter the charts are not symmetrical...
can anyone help me out please..I know for sure that most of your charts where there is time symmetry have often worked,but sincerely i am a bit confused here....
thanks
[img=http://img139.imageshack.us/img139/8163/lindaod7.th.jpg]
[img=http://img382.imageshack.us/img382/5185/lindaej3.th.jpg]

Dear Learn2trade,.
For wolf waves , there is no specific approach yet. I've seen somepeople on this thread also posting triangles as wolf.

Now , as far as Street Smart book is concerned. With due respect to writter. i just want to say one thing. When u r looking for a perfect wolf, atleast i look for symmetry, fibo ratios n trendline convergence. So , that i cant complain that wolf is failed. Thats why may be the wolf i identify never fails.

Wolf is nothing but what u learn in advance strategies , its mismatch in demand and supply. this creates wolf. Plz look at the power point presentation presented by ajax somewhere.

Its upto u , whether u want to find imperfect wolf and trade high risk , or just wait for the right one to come , and take high profit low risk trade. Opinion may very so as trading style.
Cheers ,
Darsh

 

[learn2trade08]

dear darsh,
sincerely appreciate your reply..Yes i did go through ajax's pp presentation,will be more carefull following patterns in the future..Thanks again...

Dear Learn2trade,.
For wolf waves , there is no specific approach yet. I've seen somepeople on this thread also posting triangles as wolf.

Now , as far as Street Smart book is concerned. With due respect to writter. i just want to say one thing. When u r looking for a perfect wolf, atleast i look for symmetry, fibo ratios n trendline convergence. So , that i cant complain that wolf is failed. Thats why may be the wolf i identify never fails.

Wolf is nothing but what u learn in advance strategies , its mismatch in demand and supply. this creates wolf. Plz look at the power point presentation presented by ajax somewhere.

Its upto u , whether u want to find imperfect wolf and trade high risk , or just wait for the right one to come , and take high profit low risk trade. Opinion may very so as trading style.
Cheers ,
Darsh

 

[Ank!t007]

Thanks Darsh Sir, appreciated your inputs about Wolfe waves.Can you please share your knowledge about symmetry, fibonacci ratios and trend line
or give us some examples by posting few WW charts ?

Ankit

 

[Ank!t007]

Closing Prize.

Ankit

Is this Wolfe effect or Lehman Brothers' ?

PS: This in not a valid WW pattern as darsh sir says symmetry is also very important for perfect wolfe wave pattern.

Ankit

 

[darsh_goswami]

Dear Ankit ,
I guess i told u to refer power point presentation posted by Sir Ajax.
Go through it ,
u will understand,..
Cheers
Darsh

 

[jatinsoni]

I hav noticed tht wolfe waves work well if we hav some sort of evidence with it . By evidence I mean some indicators indicating reversal. I found wolfe wave works best when there is some negative or positive divergence in MACD indicator.

 

[moneygurukul]

Check on ICICI Bank 5-Min.

 

[devangan123]

Dear Ankit ,
I guess i told u to refer power point presentation posted by Sir Ajax.
Go through it ,
u will understand,..
Cheers
Darsh

Sir can you post chart on which u found last WW. for bearish side , as you told i saw Ajax's PPT , but that is having only one type of WW, want to see other one for better understanding

please please

Regards

Devan

 

[darsh_goswami]

Sir can you post chart on which u found last WW. for bearish side , as you told i saw Ajax's PPT , but that is having only one type of WW, want to see other one for better understanding

please please

Regards

Devan

Dear Devan,

Just reverse the rules for bearish side.

Structure is simple, currently on holidays for 1 month. so not able to access charts much. but there r plenty on this forum. simply see the posts in KISS n this.
regards
Darsh