HOW-TO: Wolfe Strategy [Trendoscope]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 bound
Intelligently decides whether to place stop order or limit order
Few possible future improvements
Make bidirectional trades possible
Better filters to chose long and short trades or when to trade
Lot can be improved on Wolfe scanner to identify more patterns
Exit strategy - can introduce optional trailing
Thanks for listening. Hope you enjoyed and learnt something from this :)
