Wolfe Waves

[timepass]

Some useful addition to WW concept by pratapvb (in Ravi's thread)

Anatomy of a Good WW

Of course I do not draw these many lines and do this many analysis but am able to now see a good WW by eye-balling only.
But thought will present the structure here using a good WW example so that interested people can practice to perfection.
Also note that all WWs are not perfect. Some market distortions are always there is all technical patterns.

Some known distortions
1. 5 may fail withing the wick of 3 like a virtual high or loww
2. target may stop at pt 4 with a high vol confirmation
3. pt 5 might break and fail within a short time giving a 7pt WW
4. An ascending Triangle can behave like a WW if it gives a BO failure....though the 1-3-5 line may be nearly flat
5. sometimes 4 may almost reach the parallel through 2 making it appear like a channel....In fact the closer it appear to that parallel the stronger the opposing force to the trend
6. and many more that I may not be aware of


And as you can see BNF5 8th July 2011 WW was a perfect WW with all conditions met and good structure

 

[pratapvb]

Anatomy of a Good WW

Of course I do not draw these many lines and do this many analysis but am able to now see a good WW by eye-balling only.
But thought will present the structure here using a good WW example so that interested people can practice to perfection.
Also note that all WWs are not perfect. Some market distortions are always there is all technical patterns.

Some known distortions
1. 5 may fail withing the wick of 3 like a virtual high or loww
2. target may stop at pt 4 with a high vol confirmation
3. pt 5 might break and fail within a short time giving a 7pt WW
4. An ascending Triangle can behave like a WW if it gives a BO failure....though the 1-3-5 line may be nearly flat
5. sometimes 4 may almost reach the parallel through 2 making it appear like a channel....In fact the closer it appear to that parallel the stronger the opposing force to the trend
6. and many more that I may not be aware of


And as you can see BNF5 8th July 2011 WW was a perfect WW with all conditions met and good structure

 

[Gandhar.]

still not complete but posted point 5 done

 

[XUV-500]

still not complete but posted

check BNF-15
NF able to break morn Hi, but BNF did not

 

[Gandhar.]

 

[a1b1trader]

But that was a long time back, Gandhar
At present there is a -ww

 

[Gandhar.]

But that was a long time back, Gandhar
At present there is a -ww

noticing many things lately very late

 

[a1b1trader]

noticing many things lately very late

Sorry
I doesnt mean that

In intraday chart, positions changes rapidly and you can see one or more wws in operation at the same time, like -ww in a -ww or +ww in a -ww

The +ww is still pending, no doubt.

 

[Gandhar.]

Sorry
I doesnt mean that

In intraday chart, positions changes rapidly and you can see one or more wws in operation at the same time, like -ww in a -ww or +ww in a -ww

The +ww is still pending, no doubt.

saw that but it had tgt as the 1-3 line of this ww so ignored it also this has good RR

 

[Gandhar.]

still not complete but posted point 5 done

tgt done