Wolfe Wave Again? Oh No!

Wolfe ! on Reliance and Nifty! Enjoy!

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Hi,
So ,we all are trying to train our X-ray vision for Chart reading ,FRANKLY my problem is i am unable to do so,the mental "DICE" or "Pre Set"s springs for EW 1st,then the more i try to find the Wolfe ,it leads to Gartley ,again when i try to find Wolfe ,my inner instinct warns me "Bloke r u trying Curve Fitting" ,so all my half backed knowledge is actually preventing me.
Now in this Sunil's chart of RIL ,i know it is Wolfe before opening the chart ,but my 1st instinct was "an extended 5th Wave",that very second the Alarm preset told me "How can a 4th Traverse 1st Waves area" ,then i could zoom down to see ,sunil's clear markings & then trying to memorize the Pattern.This Black Box needs more RAM to function,dont worry & don't you forget the Tortoise / Rabbit one, i will definetely catch if not all of you atleast some of you.
Thks once again for opening this "Wolfe Wave" thing.

Asish

this time the wolfe wave will not work for nifty because it is not evident for sensex

Max Heinrich ( Zurich Axioms) On Patterns - Chaos is not dangerous until it starts to look orderly. - Beware the historian's trap - it is based on the age-old but entirely unwarranted belief that the orderly repetition of history allows for accurate forecasting in certain situations. - Beware the chartist's illusion - it is characteristic of human minds to perceive links of cause and effect where none exist.

Niranjanam,
Proof of the Pudding is in Eating only ,baki sabb bakwash,as Ashish reminded it is the color of money we are here for.How ever The Nobel of Science was given to an Economist,Chaos /Random etc.Measure your head to foot & the ratio to it's navel point ,Fib will be understood,yarr it is true for Ash Me & Shilpa & Gere.
People are making money with 2 bit knowledge on TA.

Asish

Hi Niranjanam!

You have raised a very valid point about chaos starting to look orderly. So how a trader can deal with this chaos?

Best Regards,
--Ashish

All this stuff on Chaos will sound Greek to one who is not initiated.Let me put forward some Live life examples.Remember those mobile sets 10yrs back,heavy robust ,with stattaco type distorted voice signals ? To talk on those sets one had to run in the open to get the signals,i remember we could not even hear properly when inside the building,but come to the balcony or near windows.Those were the days it was CHAOS (clear signals imbeded inside the chaos) now with scientific advancements those Sine wave of Sound's amplitude & minimum distortion of sound energy & after passing through few BAND PASS FILTER ,only the clear signals are filtered out.
This is what a sound enginner & computer coder's (architechture
specialist ) does at Bharti / RComm /Hutch everyday at their relevant Station.
And we try to do the same thing at our relevant station, the NSE terminal via broker's Server,sends : Price + Garbage = Chaos ,we try our best to desiminate the datas ,to bring the signals.
Plz go & ask a soung enginner at P&T or Bharti,we will be astonished to know they deal with CHAOS & bring to tame that in an orderly Pattern,tell them some urchin uninitiated like me think that some freak of a momment the same pattern repeated which was just an accident.Those guys knows nothing of Stock Mkt or TA ,will teach you what is Chaotic Signals & how they Tame them to Filter Crisp/Clear voice signals.I was a fool ,(still a dumb )but still Price is SUPREME to me & it follows definite laws.RSI tells us a OB/OS zone ,MACD gives Divergance these are all Derivatives of PRICE which tells us everyday ,every hour.All bengalees of '70 read
Marxism i was no exception but in Practise world wide "Kensiyan Theory of Capital" evolved to a better "Mkt Economy" & those Smart Whiz kid Marxist of my teenage (we felt pleasure refuting in those Theories),later on as time evolved found we had a wrong conception & world wide those were discarded & better practise replaced old one.That evolvement is going on every day in TA but "Price" is the basic premises like "Profit" was in Kensyian & still in Mkt Driven Economics.

Hi all

More wolfes on prowl. see charts and
get shocked.

But how to spot them before they take off??

Ajax

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	INFTE 2 wolfs.GIF (16.2 KB, 60 views)

There is a Typo error plz read Max Gunther instead of Heinrich , he was a Swiss national.

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Major Axiom 5: On Patterns
The Emperor Axiom
Chaos is not dangerous until it begins to look orderly.

Do not look for order where order does not exist. Do not overlook the large role chance takes in any speculation. Study information in whatever speculative medium to improve chances and take your best shot. Stay light on your feet ready to jump this way or that. You are dealing with chaos, as long as you are alert to that fact you can keep yourself from getting hurt.
Internal Monolog goes:
"OK. I've done my homework as well as I know how. I think this bet can pay off for me. But since I cannot see or control all the random events that will affect what happens to my money. I know the chance of me being wrong is large. Therefore I will stay light on my feet, ready to jump this way or that when whatever is going to happen happens."

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