Wolfe Wave

[adityasaraf007]

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?

I still stand by whatever I said.... If you are following 10 stocks - you would regularly find WW in one TF or the other in atleast one of the stocks.... You could search for explorations - I am sure someone would have made it for Amibroker.... Personally, I have never used one neither felt the need for it.... WW is a visual pattern, it should be kept that way, why should we convert it to a mechanical one.... Eyeballing the charts is sufficient to spot it - doesn't strain our eyes....

Go through this manual... It should clear your doubts...

 

[mangup]

I still stand by whatever I said.... If you are following 10 stocks - you would regularly find WW in one TF or the other in atleast one of the stocks.... You could search for explorations - I am sure someone would have made it for Amibroker.... Personally, I have never used one neither felt the need for it.... WW is a visual pattern, it should be kept that way, why should we convert it to a mechanical one.... Eyeballing the charts is sufficient to spot it - doesn't strain our eyes....

Go through this manual... It should clear your doubts...

Thanks Aditya, I have & read this document. But practically i have seen new high/low is made even after pt 5 confirmation. Sometime it triggers the system SL & then follow the pattern. It means the identification of pt 5 was wrong.

Do we need to see check for other confirmation signal also apart from WW rules?

 

[adityasaraf007]

Thanks Aditya, I have & read this document. But practically i have seen new high/low is made even after pt 5 confirmation. Sometime it triggers the system SL & then follow the pattern. It means the identification of pt 5 was wrong.

Do we need to see check for other confirmation signal also apart from WW rules?

As I had mentioned in the previous post... the best way out is to follow the price - get out if it hits your SL - if you find that it has again started moving in the direction of your target, get in again - there is higher probability that this would reach the target.....

But its easier said than done..... Afterall this is what trading is all about - fighting against your own self..... To have control over your emotions and keeping the ego at bay....

 

[praveen taneja]

Aditya bhai ek do Gold ya copper ka WW bana ke dikha do na

waise crude ya silver bhi chalega

 

[prst]

As I had mentioned in the previous post... the best way out is to follow the price - get out if it hits your SL - if you find that it has again started moving in the direction of your target, get in again - there is higher probability that this would reach the target.....

But its easier said than done..... Afterall this is what trading is all about - fighting against your own self..... To have control over your emotions and keeping the ego at bay....

its easier to do it in cash, that too if ur holding small positions.

 

[savinir]

wolfe wave in GPPL? please share your thoughts

<a href="http://www.rupeeking.com/charts/show/411"><img src="http://www.rupeeking.com/charts/0000/0411/image.png" alt="RupeeKing.com BSE NSE Technical Charts"></a>

 

[murthyavr]

wolfe wave in GPPL? please share your thoughts

<a href="http://www.rupeeking.com/charts/show/411"><img src="http://www.rupeeking.com/charts/0000/0411/image.png" alt="RupeeKing.com BSE NSE Technical Charts"></a>

Not a WW, I think.

1-3-5 and 2-4 lines are not converging.

 

[savinir]

Not a WW, I think.

1-3-5 and 2-4 lines are not converging.

GPPL has also made tripple bottom at 50. MACD is rising so as rsi. I feel this may be a distorded ww. awaiting more inputs from more members.

 

[vikrit]

copper mini - 27/8/2012 - wolfe wave. tf- 15min

target achieved but as per volume rule should come out on close of large red candle.

 

[murthyavr]

copper mini - 27/8/2012 - wolfe wave. tf- 15min

target achieved but as per volume rule should come out on close of large red candle.

Good catch, Vikrit!