There is a strong bias about chart patterns and their interpretation in the technical analysis space. It is a very common belief that a rising wedge forms bearish sentiment and a falling wedge forms bullish sentiment. Is that really true and how much we can rely on such bias? In order to understand this, we need to dig a little bit about how such concepts could...
Just made this short video to explain the concepts of Wolfe Strategy which I recently published. Wolfe wave is popular concept among option traders. However, I have made some tweaks in this strategy to standard wolfe pattern trade rules. Entry price based on breakout No moving target - using flat target. Entry is done based on risk reward Not time...
Time is money. This is a case of comparative advantage. Which means the less time it takes the coin to produce oil or energy, maybe even transactions. All will go down and then pop back up, much like a sinking ship. Within the next 5 hours, an entry point will be present. It’s time to glean for Q2, because after this the prices will hit an all time high and then...
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The Theory of the Wolfe Wave : The theory of my Wave structure is based on a law of physics that for every action there is an equal and opposite reaction. This action/reaction often shows a definite rhythm with extremely valuable projecting capabilities to the trained eye. Many times however, little waves mix with larger waves and the waters become muddied....
Wolfe Waves:Example of a bullish Wolfe wave on 15 mn GbpChf chart. Can be both bearish or bullish and on any time frames. The key to recognizing the setup is symmetry. Ideally, waves 1-3-5 are established with very regular timing intervals between moves. The other key ingredient is that the wave 4 should revisit the price range established by waves 1-2 for the...
Daily Example is on EurAud: Bullish Head and Shoulder Pattern (can be bearish or bullish on any time frames) Target should be height of head to neckline X 2 (so measure UP from neckline to bullish target)- set risk management accordingly.
Nice bearish wolfe wave day trading setup..look for them on 15 minute charts, with breakout at start of London session going to end of London session.
Using Wolfe Waves can be done, on any time frames and type of trading.
The key to recognizing the Wolfe Wave setups is symmetry. Ideally, waves 1-3-5 are established with very regular timing intervals between moves. The other key ingredient is that the wave 4 should revisit the price range established by waves 1-2 for the best results. Another way to describe the pattern is that it comes as a rising wedge / channel in an...
This is not a forecast or a signal! it's just an example of an occasion which a pattern like Wolfe Waves worked well ! This chart has almost followed the rules of Wolfe waves , unless the first point is not exactly on the right place! 1st point: Start of the wave 2nd: First top of the channel 3rd: First low of the channel 4th: Second high of the channel...
Example of a Bullish Wolfe wave.
The wave follows the required breakout pattern however the first two waves form a time interval much smaller than the following two.
Bearish wolfe wave pattern the target price the line between 1 and 4 the stop loss 2.10777
bullish wolfe wave pattern the target profit and stop loss level ar shown on the chart
Supply and demand analysis with confluence with WW and Orderbook. TF: 1H Entry: 0.68647 R:R: 4.16 Open: 6:00 AM tradingjour.blogspot.com
Refer chart!