Wolfe Waves
- Thread starter chheda
- Start date
- Tags wolfe wolfe wave
tp and other members are sir i am not sir
@ tp sir can we take low of 11-9 as pt4
then it increases tgt
so there are 2 possible ww if i am not wrong
ding dong
tp or ne1 can u confirm if above is correct?
@ tp sir can we take low of 11-9 as pt4
then it increases tgt
so there are 2 possible ww if i am not wrong
ding dong
tp or ne1 can u confirm if above is correct?
Again, I am not familiar with the strict rules of WW but I'm sure that you will find an explanation somewhere in this thread itself. Also, you should download the documentation by the creator of WW Bill Wolfe.. You will find a link in this thread itself or click here to access Timepass's Notes.
http://www.traderji.com/general-trading-investing-chat/60900-timepasss-notes-5.html#post663095
http://www.traderji.com/general-trading-investing-chat/60900-timepasss-notes-5.html#post663095
Hi Gandhar
First of all a suggestion
Use the time span that is necessary (you can see your chart is in a very long time span, 80-85% is irrelevant for the purpose you want to discuss, so get rid of it)
IMO, as far as point 4 in concerned both charts are ok
BUT
A very big BUT is here.
Does the point 2 that we have chosen is correct.
We are choosing 4.9.13 low as point 2, which is a HL and not the lower low (LL), which formed on 28.8.13.
But we can not choose this LL as point 1, as then line 2-4 will cut through many candles, which is against the unwritten rule of WW formation (That says that line 1-3-5 and 2-4 should not pass through priceline except at and after point 5)
(This is my personal view)
So, what could be the solution
Check the formation in lower time frames.
And here is one in 5 mins, though also in 10/15 mins
SBIN -ww 5 min tgt 1690 20.9.13
Uploaded with ImageShack.us
Further if you still want to look for -ww in daily time frame, then take 10.9 high as point 1 and this gives you a target of around 1525.
I am sorry I am writing this post a bit late, as in an error mishap I lost all my loaded charts of the charting software and I have to reload all the charts.
First of all a suggestion
Use the time span that is necessary (you can see your chart is in a very long time span, 80-85% is irrelevant for the purpose you want to discuss, so get rid of it)
IMO, as far as point 4 in concerned both charts are ok
BUT
A very big BUT is here.
Does the point 2 that we have chosen is correct.
We are choosing 4.9.13 low as point 2, which is a HL and not the lower low (LL), which formed on 28.8.13.
But we can not choose this LL as point 1, as then line 2-4 will cut through many candles, which is against the unwritten rule of WW formation (That says that line 1-3-5 and 2-4 should not pass through priceline except at and after point 5)
(This is my personal view)
So, what could be the solution
Check the formation in lower time frames.
And here is one in 5 mins, though also in 10/15 mins
SBIN -ww 5 min tgt 1690 20.9.13
Uploaded with ImageShack.us
Further if you still want to look for -ww in daily time frame, then take 10.9 high as point 1 and this gives you a target of around 1525.
I am sorry I am writing this post a bit late, as in an error mishap I lost all my loaded charts of the charting software and I have to reload all the charts.
TPBro
Dont know why you didnt post the chart.
However there is no -ww in daily time frame post 11.9. as the lines 1-3-5 and 2-4 are diverging and not converging.
But there is a -ww in 60 min chart.
BANKNIFTY -ww 60 min tgt 10100 20.9.13
Uploaded with ImageShack.us
Take Care
Dont know why you didnt post the chart.
However there is no -ww in daily time frame post 11.9. as the lines 1-3-5 and 2-4 are diverging and not converging.
But there is a -ww in 60 min chart.
BANKNIFTY -ww 60 min tgt 10100 20.9.13
Uploaded with ImageShack.us
Take Care
Last edited:
Hi friends,
I am giving Mcdowell-N chart eod 27.9.13,is it that the wolfe wave that had formed is nullified ?? if not then what could be the future movement like?
As It is always directed by our dear bro a1b1 to up load only the portion of image that is necessary,I have done that!!I request comments for Bro a1b1,gandhar bro,TP,op.tr.and any other who is interested.
thnx
I am giving Mcdowell-N chart eod 27.9.13,is it that the wolfe wave that had formed is nullified ?? if not then what could be the future movement like?
As It is always directed by our dear bro a1b1 to up load only the portion of image that is necessary,I have done that!!I request comments for Bro a1b1,gandhar bro,TP,op.tr.and any other who is interested.
thnx
Last edited:
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