The more confluence - the better.
I combine this pattern with the SAR signal.
The odds also seem better when there’s an rsi divergence.
Typical entry is when price goes back down the 1-3 line.
Ideal target is the 1-4 line.
To spot a potential Wolfewave forming, I usually look for a wave 4 that enters wave 1.
Then, I watch if that wave 4 breaches wave 2.
If not, the next move should be a break above the 1-3 line.
Another thing to look at is if the 2-4 line forms a rising wedge with the 1-3 line ( for a bearish Wolfewave).
Earlier entry for a bearish Wolfewave could be when the SAR of the pattern moves above price.
Another earlier entry is looking for signals on a shorter timeframe.
Patterns can fail.
Do your own due diligence.
I combine this pattern with the SAR signal.
The odds also seem better when there’s an rsi divergence.
Typical entry is when price goes back down the 1-3 line.
Ideal target is the 1-4 line.
To spot a potential Wolfewave forming, I usually look for a wave 4 that enters wave 1.
Then, I watch if that wave 4 breaches wave 2.
If not, the next move should be a break above the 1-3 line.
Another thing to look at is if the 2-4 line forms a rising wedge with the 1-3 line ( for a bearish Wolfewave).
Earlier entry for a bearish Wolfewave could be when the SAR of the pattern moves above price.
Another earlier entry is looking for signals on a shorter timeframe.
Patterns can fail.
Do your own due diligence.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.