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Wolfe Wave

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 :)
Education
by Trendoscope
4
wti updateTrader reaction to the long-term 50% level at $72.31 is likely to determine the direction of the January WTI crude oil market on Friday. Bullish Scenario A sustained move over $72.31 will indicate the presence of buyers. This could lead to a test of the minor top at $75.44. Taking out this level will change the minor trend to up and could trigger an acceleration into the short-term Fibonacci level at $78.72. Bearish Scenario A sustained move under $72.31 will signal the presence of sellers. This could trigger an acceleration to the downside with $63.73 the next major target.
FX:USOIL
by MtICHI
Low Probability, High Reward BTC setupWith the FTX & Binance issues, plus crypto regulation likely coming next year, I don't have much faith in this setup. However I can't ignore the doubled up harmonics here, Bull Cypher and Bull Wolfe Wave. I'm prolly not a player until it establishes support above the $21k POC. Then we're looking for $29k>$37k>$60k targets. Above 19k is probably good for a $21k POC test, but risky and doubtful right now. Lower TFs have some bearish setups.
COINBASE:BTCUSD
by Nicklaus68
IBM ... Small bumps ahead ?Since mid-October IBM has produced a nearly 35% gain This would appear to have traced out a bullish impulse wave (1-2-3-4-5) It has also created a possible Wolfe Wave top with a short term downside target of $143-$144. Additionally one could envision two harmonic patterns in development. In the shorter term which a Gartley pattern supports the WW thesis. The longer term a Bat pattern supports the 1/3 retracement scenario of the October move. With an eye on the Fed's actions next week and broader equity markets I would be looking to sell IBM price strength with a tight stop should be breach recent highs. I will follow up if I feel a short position is warranted. As usual this is not investment advice, so do your own due diligence. S.
NYSE:IBM
by Steve666
2
fifth wave to downside or upside move depend on 83$ breakwe may see fifth wave to downside or upside move depending on 83$ break. The good news for crude oil bulls is coming out of China. The potential for increased demand is there, but the country needs to do more to curb restrictions before it will show up in the economic data. Some analysts suggest some curbs will last until March. So demand may bottom, but we may not see a significant increase for six months. The decision not to cut production by OPEC+ was no surprise. The group is probably waiting to see the impact of the Russian ban before they make a decision to cut or not cut at its Feb 1 meeting. There is still a lot of confusion as to how it is going to work and if it is going to work. If prices drop too far, OPEC+ will be there to prop them up. On Friday, G7 nations and Australia agreed on a $60 per barrel price cap on Russian seaborne crude oil. According to Reuters, many analysts and OPEC ministers have said the price cap is confusing and probably inefficient as Moscow has been selling most of its oil to countries like China and India, which have refused to condemn the war in Ukraine. The European Union will need to replace Russian crude with oil from the Middle East, West Africa and the United States, which should put a floor under oil prices at least in the near term. Additionally, the end of the U.S. Strategic Petroleum Releases (SPR) is also providing support. .
FX:USOIL
by MtICHI
es 11-30 update 🗝good evening my peoples, --- it was exactly 22 days ago when i gave you that 4130 level. lot of bears ignored my post, and got squeezed out today for a significant loss. i pour this aapl juice out for you, my dearest bear frens. --- as of today, i'm starting to entertain the possibility of es seeing yet again, Another expansion. sounds kinda wild i know, but that's what happens when everyone tries to short the market. the guys who run this game just keep running it up ---> whilst taking all the hard earned bear money. >once the last bear falls, >they know it because they see it, >and when they see it , >they drop the market. --- 4130 Could be the top, don't discount it. it is a significant algorithmic resistance which was programmed to get hit over a month ago. here's the key though, if you've read this far: watch how the market pulls back from 4130. 🗝does it come down in 3 waves? if so, expect higher prices. 🗝does it come down in 5 waves? if so, you caught the top. --- og target = $4130 expansion target = $4225.25 ---
CME_MINI:ES1!
by Eloquent
3
first 85$ then 108$oil went beyond 90$ and invalidated bearish scenario .90$ is the last lower high which broke upward and turn oil bullish .OPEC decision was ridiculous in term of affecting market since the production cut is less than 1mbpd as real number or less than 1% of total world capacity so this small portion cut will not the real factor behind this new bull run . approaching to cold season or China easing covide policy or Russia price cap or failed Iran US atomic deal maybe some contributing factor keeping these in mind and respecting ichimikou signal we are expecting market to have a correction near 85$ and then resume upward move toward 108-121$ area of strong resistance of fibo levels and price action levels also appearing a harmonic pattern on USDCAD on weekly time frame will be a confirm for this wti bullish scenario please see wti big picture as below please share your ideas tnx
TVC:USOIL
by MtICHI
2
usoil updateChina relaxing COVID restrictions and OPEC+ announcing additional cuts to output would be game changing moves and could be a major turning point for prices. The OPEC+ decision would be particularly bullish since it would give traders the confidence to buy dips aggressively in the market on the notion that OPEC+ has their backs. Later today at 21:30 GMT, the American Petroleum Institute (API) will release its latest weekly inventories figures. It is expected to show a drop of 3 million barrels of crude oil. Traders will also be monitoring the U.S. Dollar since a weaker greenback tends to support dollar-denominated crude oil.
FX:USOIL
by MtICHI
1
es 11-28 update ~good evening, quick update to one of the two bear cases i posted over the weekend. (post pinned at the bottom of this thread). --- es1! has been tapping at the local golden zone quite a few times recently, each poke results in a weaker dip which continues to get absorbed (accumulation). there's no notable bearish divergence present for now, in fact, we printed a hidden bullish divergence near the end of today - which validates in my mind that we're going to go higher. --- >watching 3910 as a local bottom into wednesday, >which is a heavy area of demand + a window of algorithmic confluence. >upside target from there sits at the original 4130 level, >with a slight chance to expand to 4190 if things get heated into the end of this year (short squeeze). --- ps. it's also possible that we've topped, but i personally have reason to believe that we haven't (for now). --- posts which led to this one 👇
CME_MINI:ES1!
by Eloquent
WTI is seeking 83$technical view: a wolfe wave pattern completed also 5 wave impulsive is seen to be completed also a divergence on RSI it seems that WTI trying to reach its wolfe wave target as 83$ fundamental view: Tight supply concerns are being driven by another draw in U.S. stockpiles, OPEC+ output cuts and the upcoming embargo of Russian oil by the European Union. Worries about a global recession are being fueled by a sharp rise in the U.S. Dollar, which could dampen foreign demand for dollar-denominated oil. The greenback is being bolstered by a surge in Treasury yields, making the dollar a more attractive investment. Yields are being driven higher by hawkish commentary from Fed Chairman Jerome Powell who said on Wednesday it was premature to consider pausing rate increases.
TVC:USOILShort
by MtICHI
17