Wolfe Wave

[adityasaraf007]

S&PCNXNIFTY - Daily

There is a possibility that it would go up to breach the 1-3-5 line.... This has to be kept in mind....

PS - Guys, Sorry if the colors in chart hurt your eyes.... I'm having issues with my monitor... It doesn't display the primary color, Red, anymore.... and this configuration of colors display properly at my end....

 

[adityasaraf007]

DLF - Daily

The inner one is drawn on Hourly....

Similar formation seem to be present in a couple of other charts as well.... RECLTD being one of the standout ones....

 

[aayush_123]

nt a ww as symmetry not thr.. bt lets see

 

[prst]

nt a ww as symmetry not thr.. bt lets see

i guess, if the lines are converging, that makes them a bit higher probability.

 

[mangup]

1. How to filter WW as per the stock & time frames as there may be lot of WW in making in so many stocks & so many time frames?

Is there any exploration available to filter them in Metastock & Amibroker?

2. Any other indicator to be used as confirmation alongwith WW (Specially to identify pt 5 or reversal pt)?
During the formation of pt 5, it's very difficult to find the level to which it will continue its move & reverse suddenly to confirm pt 5. If we take premature entry, & price continue its direction, it will erode the account & really test the confidence. If one is trading in F&O, it will be quite difficult to hold as price moves are wild near pt 5 zone.

 

[murthyavr]

DLF - Daily

The inner one is drawn on Hourly....

Similar formation seem to be present in a couple of other charts as well.... RECLTD being one of the standout ones....

imgur might be having problems.. i am not able to see any chart.
in fact, i used the image link and tried in a fresh window, but no - it's not coming!

 

[adityasaraf007]

1. How to filter WW as per the stock & time frames as there may be lot of WW in making in so many stocks & so many time frames?

Is there any exploration available to filter them in Metastock & Amibroker?

2. Any other indicator to be used as confirmation alongwith WW (Specially to identify pt 5 or reversal pt)?
During the formation of pt 5, it's very difficult to find the level to which it will continue its move & reverse suddenly to confirm pt 5. If we take premature entry, & price continue its direction, it will erode the account & really test the confidence. If one is trading in F&O, it will be quite difficult to hold as price moves are wild near pt 5 zone.

1. Are you able to manually find WW on a consistent basis.... If not, no automated exploration is ever going to be helpful.... Stop worrying about plenty of WW waving in multiple stocks in multiple timeframes...

2. Every once in a while we encounter tricky WW..... In the middle of the trade, price starts moving in the opposite direction - we get out of the trade - and then price resumes its journey in desired direction to hit the target.... We have to live with it.... Following price is the best way out..... Basically, know your WW - you know the probable direction - and follow the price along the chart - get out if it starts reversing - get in again if you believe it has started its journey to hit the target.... Basically, keep the ego out and follow the market..... And don't hesitate to exit if your Stop Loss hits and it gives you a loss.... Not all the WW work as per expectation..... But roughly around 75% of WW gives a profitable exit.... However, if you don't book your losses in the rest 25% - your Net position would definitely be negative....

3. If you are beginning out with WW.... Don't trade for the entire Profit target.... Keep booking out partially at regular intervals.... This would help to improve your Strike Rate and infuse confidence along with money in your account...

 

[adityasaraf007]

imgur might be having problems.. i am not able to see any chart.
in fact, i used the image link and tried in a fresh window, but no - it's not coming!

Does it help...

 

[timepass]

imgur might be having problems.. i am not able to see any chart.
in fact, i used the image link and tried in a fresh window, but no - it's not coming!

With imgur, this usually happens with images which don't have the prefix "http://". So, if imgur links only begin with "i.imgur....." then adding the prefix brings out the image.

http://i.imgur.com/KAhio.png

 

[mangup]

1. Are you able to manually find WW on a consistent basis.... If not, no automated exploration is ever going to be helpful.... Stop worrying about plenty of WW waving in multiple stocks in multiple timeframes...

2. Every once in a while we encounter tricky WW..... In the middle of the trade, price starts moving in the opposite direction - we get out of the trade - and then price resumes its journey in desired direction to hit the target.... We have to live with it.... Following price is the best way out..... Basically, know your WW - you know the probable direction - and follow the price along the chart - get out if it starts reversing - get in again if you believe it has started its journey to hit the target.... Basically, keep the ego out and follow the market..... And don't hesitate to exit if your Stop Loss hits and it gives you a loss.... Not all the WW work as per expectation..... But roughly around 75% of WW gives a profitable exit.... However, if you don't book your losses in the rest 25% - your Net position would definitely be negative....

3. If you are beginning out with WW.... Don't trade for the entire Profit target.... Keep booking out partially at regular intervals.... This would help to improve your Strike Rate and infuse confidence along with money in your account...

Dear Aditya,

1. I was just trying to cut short the searching process or either i have to search only in limited stocks & time frames. If let say, i decided to search the WW in say 10 stocks & 2 time frame. It may happen that WW gets formed in other than those 10 stocks & 2 time frame. So it is necessary to have filter inspite of searching the limited area.

2. Is it possible to find a day when pt 5 will be formed (on daily charts) so that reverse entry can be taken?
3. What will be the point of confirmation for pt 5?