April '04 Forex

FetteredChinos

Veteren member
3,897 40
thansk for the WW stuff guys.

bit tricky to get my head round. may do some further reading tonight on the train.

cheers for your help.

time for SuperChinos to rescue this howler of a day!

:)
 

Volatile

Member
58 0
I know what you mean FC - I'm only 40 down on the day but I'm very wary of doing anything atm the way things have been going so far :(
 

pmaa

Junior member
30 0
Never mind gooby you live to fight another day ,and good w.e. to you . :p
 

trader1234

Newbie
2 0
Hi Goober
I am new to the post but a good follower of wolfe wave pattern
I have not done the actual course of 3000 as mentioned in the official website by Mr Bill Wolfe.
But the info you have just given about the ww rules and pattern setups i have not seen before any where on net.
So i guess have you done the course if yes i would like to know your feedback on it and also some more general details if possible.
As i do not roam too much on forum if you can send me a quick email at t4m52(at)yahoo(dot)co(dot)uk

Best Regards
M Jiruwala


Goober said:
FC

“Wolve Waves in a Nutshell”

Here is a brief description on Wolve Waves as you’ve never seen before. You will notice that the following rules differ to published rules.

For a bearish Wolfe Wave:

Look for a bottom (e.g. point 2)
Point 3 is the top of the first rally
Point 1 is where a horizontal line, drawn from point 3, intersects with the rally prior to point 2.
Point 4 is the bottom of the decline after point 3 and should be +50% retracement of point 2 and 3.
Point 5 is the top after point 4 and is likely to exceed the extended line 1-3.

NB. Point 4 must have formed to identify potential Wolfe Waves.

Draw extended line 1-3
Draw extended line 1-4
Draw extended line 2-4
Draw parallel line of line 2-4 that intersects with point 3

On the attached chart, the shaded area between extended line 1-3 and the line parallel to line 2-4 is called the buy/sell zone. This is the entry point for a ride to line 1-4 (EPA)

Estimated Price at Arrival (EPA) is extended line 1-4.
Estimated Time of Arrival (ETA) is apex of extended line of top of rally prior to point 1 (point PT on attached chart) and point 2 to 4. Draw vertical line from apex down to line 1-4. The EPA and ETA are where these lines intersect (point T on attached chart).

For a bullish Wolfe Wave, reverse the above.

Please note that Wolfe Waves need to be confirmed with volume, which is not available on Forex. They do, however, work well on futures.
 
 
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