Hello members,
I have been learning about Wolfe Wave patterns through various posts made in this forum. To test my grasping of the subject, I have attached here a image of Gujarat Apollo Equipment (BSE Ticker: 522217). I have marked wave points 1 to 4 and in fact, 5th wave point is also completed and 6th point is in progress. Please verify the chart and tell me whether I am right in spotting a bearish wolfe wave.
I would also like to to know
1. Whether there is any possibility of wolfe wave failures?
2. If so, what are the precautions to be taken by the trader to avoid burning of fingers?
3. Any charts as examples showing failure of wolfe waves?
4. If there is a failure of wolfe wave, how the resultant move will unfold? How to trade it?
5. Is there any method by which one can detect failure of wolfe wave in advance?
6. Any reference materials on failures of wolfe waves? Any literature?
Your guidence is most valued.
Regards
R. S. Iyer
I have been learning about Wolfe Wave patterns through various posts made in this forum. To test my grasping of the subject, I have attached here a image of Gujarat Apollo Equipment (BSE Ticker: 522217). I have marked wave points 1 to 4 and in fact, 5th wave point is also completed and 6th point is in progress. Please verify the chart and tell me whether I am right in spotting a bearish wolfe wave.
I would also like to to know
1. Whether there is any possibility of wolfe wave failures?
2. If so, what are the precautions to be taken by the trader to avoid burning of fingers?
3. Any charts as examples showing failure of wolfe waves?
4. If there is a failure of wolfe wave, how the resultant move will unfold? How to trade it?
5. Is there any method by which one can detect failure of wolfe wave in advance?
6. Any reference materials on failures of wolfe waves? Any literature?
Your guidence is most valued.
Regards
R. S. Iyer
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