simple steps to identifty Wolfe

gobatman2001 · #81 5th August 2007, 09:47 PM

Hi! Winston,

Need your help once again, please.

My query is ...

1) Assuming you take 1 year as the time frame on the daily charts, where should Point 1 be on the chart?

If you look at the attached image, "Nifty 1 Year option 01", Point 1 is more on the left hand side of the chart.

If you look at the attached image, "Nifty 1 Year option 02", Point 1 is more towards the right hand side of the chart.

If you move the slider at the bottom, Point 1 is at different places on the chart and then, you get different targets.

The image, "Nifty 1 Year option 01" is the one where the Nifty fell to it's exact target last May.

2) What is the time frame that one should take to accurately get a prediction of what the target (Line connecting Points 1 & 4) should be.

For example, if you look at daily chart and choose the time frame as 1 year, the target will be different than the target if you choose 9 months as the the time frame.

If you look at all the attached images, Point 1 is at different locations on the chart.

To summarise my query ... Which time frame do you take and where should Point 1 be?

Hope I was able to explain my query clearly.

Please do help ...

Thanks & regards,
Amit

robin_malihan · #82 7th August 2007, 06:20 PM

Quote:

Originally Posted by johnbest

dear

pls find attach an article on identifying Wolfe Wave

Have a nice day
JB

i have downloaded this file ,plz explain where this codeing can be used (amibroker or metastock)

dsanjyot · #83 7th August 2007, 06:21 PM

I just want to know if this will qualify to be a wolf wave?

On NIFTY Daily chart draw line connecting 26th APR and 4th June which can be marked as 1 and 3 and connect 11th MAY and 13th june line will be marked as 2 and 4
just let me know if I am on right track

robin_malihan · #84 7th August 2007, 06:55 PM

Quote:

Originally Posted by dsanjyot

I just want to know if this will qualify to be a wolf wave?

On NIFTY Daily chart draw line connecting 26th APR and 4th June which can be marked as 1 and 3 and connect 11th MAY and 13th june line will be marked as 2 and 4
just let me know if I am on right track

http://www.traderji.com/attachments/...esen-12000.gif

u r on right track but very late
see this post by ajax sir .....
he is really great with wolf

dsanjyot · #85 8th August 2007, 05:22 PM

Dear Robin_malihan ,

I am not too late as I am a big fan of such wave patterns, constantly looking for the same. I was short on NIFTY at right time. I just wanted to confirm that the target of 12000 given by AJAX for this WOLF wave where as the target on NIFTY seems to be different @ 3900 - Also I would like to know the expected time of arrival for the target?

ALSO after todays move what is the further course of action?

Thanx.

Parv · #86 8th August 2007, 08:11 PM

Hi Winston & Senior members,

When can we exactly start thinking of a Wolfe wave pattern? Is it when the 4th wave begins or after the 5th wave crosses the trend line.
I'm a day trader and the waves will be forming pretty fast, so thought of having a formula to identify a wolfe wave in intraday.

Parv

p_ashvin · #87 8th August 2007, 09:34 PM

Hi,

Why not anybody please create a expert in metastock for identifying wolf wave for me and lot of other members who are not expert in metastock program writing.

Ashvin

winstonn · #88 9th August 2007, 04:40 PM

Hi Amit,

sorry for the delayed response, i am really busy in my academics.
well, your question is really good!

your first answer:
it does not matter whether the point 1 is formed towards right or left. Wht is important that proper points 1,3,5 must be formed on important swing points .Did you observe that in both the charts of Nifty 1 year options 1 and 2, point 1 is set up on same common day.
you extend the 1-4 target line, that's all........the moment target is near or achieved.....it's bingo and u r out of the position.

Answer to the 2nd question:

if the wolfe wave setsup on say some 'X' time frame, the target should be watched only in that particular ' X' Time frame. If you have daily chart as time frame.....dont bother whether the target is on 1 year daily chart or 9months daily chart. What is important that this daily time frame should not be changed.

Wolfe waves work in all the time frames right from 1 min to 1 month................

Hope this satisfies your passionate thurst.....
Take care,
Winston

hiteshdaga · #89 10th August 2007, 01:39 PM

I think there is one more thing:
Unless the 2-4 line is broken the trgt line 1-4 will not be achieved ??

Ajax · #90 10th August 2007, 01:54 PM

Hi wolves

If u take position @ point 5 and then trail ur SL , u would be still be in the money. Targets are elusive ,dont wait for them. To identify correctly & take position is in ur hand. Targets/ goals are are not in ur hand. Ref : Bhagwat Geeta's classic surmon.
WOlfe allows u to track smart money and act. Its possible to catch tops or bottoms with wolfes. Are u still not convinced????????
Need more proof , tell me I will show you....
Ajax

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