Wolfe Waves

[Gandhar.]

a -ww in auropharma(tgt close to 400)
may be waiting for results just like biocon

-ww in auropharna

 

[Gandhar.]

-ww in DAX(german index)
tgt close to 330 points

-ww in DJI

both done
Dow---

Dax---

 

[arcus]

A Negative WW is basically an Ascending Wedge & a Positive WW is a Descending Wedge.

The only difference is there are price targets attached to the WW.

In a way, WW's are classical chart patterns which were discovered hundred years back and renamed by Mr Bill Wolfe.

 

[Riskyman]

Hello All WW experts here. Could anyone please have a look at Nifty & Bank Nifty daily and tell me if they making -ww. As per what i seemed to have understood Nifty target is 5850 something and Bank Nifty target 9200-9400?? I cannot post the chart as im not able to save it. I will try though. Thanks a lot

 

[timepass]

Hello All WW experts here. Could anyone please have a look at Nifty & Bank Nifty daily and tell me if they making -ww. As per what i seemed to have understood Nifty target is 5850 something and Bank Nifty target 9200-9400?? I cannot post the chart as im not able to save it. I will try though. Thanks a lot

It was discussed a month ago..5 weeks now and it's nearing the EPA, maybe another one or two weeks, maybe not.

A scary picture on Bank Nifty weekly.

But the volume confirmation is not there either on point 3 or 5 .. Dekho kya hota hai, in the coming 5-6 weeks.

Yes. I did express my doubt that point 3 & 5 do not show the volume confirmation. Your comments please about a similar formation, but with volume confirmation, on the daily charts.

Also, your comments based on Ichi would be very welcome. I guess that for now we can consider the cloud top as a strong support, with caution because the 9d conversion is below the 26d conversion and is looking downwards.

 

[anil_s_trivedi]

A Negative WW is basically an Ascending Wedge & a Positive WW is a Descending Wedge.

The only difference is there are price targets attached to the WW.

In a way, WW's are classical chart patterns which were discovered hundred years back and renamed by Mr Bill Wolfe.

Nice arcus...good line of thought and proves a good basic study.

To a classical follower like me...

Bullish wolfe wave is a accumulation pattern, and point 5 is a breakdown failure, or a final shake up to the weak bulls, or the last selloff by bears(at pt. 4) to offload the whole bag.

Similarly, Bearish WF is a distribution pattern, where pt .5 is a breakout failure.


And in a similar way, i am little concerned with volume during formation, but yes on breakdown at pt 5. after failure to move UP, volume should be good.

 

[Riskyman]

It was discussed a month ago..5 weeks now and it's nearing the EPA, maybe another one or two weeks, maybe not.

Hey,

Thanks so much for your reply and sorry I didnt actually browse through posts a month old. As with Nifty would you agree that Nifty would scale down to 5850 levels?

 

[timepass]

Hey,

Thanks so much for your reply and sorry I didnt actually browse through posts a month old. As with Nifty would you agree that Nifty would scale down to 5850 levels?

That is a tough call. I feel that nifty will move down even lower to around 5600 levels. But this is election time. There will be goodies from the government all around. Also, the budgets - the Rail Budget and the Finance Bill - are due in February, rail budget on 12th and Finance Bill on 17th. These are the wild cards.

So, although I am pretty sure of a serious downside, I would not trade it today. We will have choppiness till a clear political picture emerges.

 

[Riskyman]

That is a tough call. I feel that nifty will move down even lower to around 5600 levels. But this is election time. There will be goodies from the government all around. Also, the budgets - the Rail Budget and the Finance Bill - are due in February, rail budget on 12th and Finance Bill on 17th. These are the wild cards.

So, although I am pretty sure of a serious downside, I would not trade it today. We will have choppiness till a clear political picture emerges.

Thanks for your reply. I have to admit that my previous question was directed more towards a technical perspective of our markets specifically a -ww on the Nifty, if any. Yes I agree with your views that markets can take a knock down towards 5800-5600 levels before upcoming elections. I feel Nifty will not scale up towards 6450 levels unless FIIs see a good government in place to oversee the much needed reforms.

 

[Riskyman]

So guys no more stocks that are making waves??


Thanks