KISS like McGrath

winstonn · #**121** 7th June 2007, 08:49 PM

hi ops,

unfortunately , you have posted a wrong wolfe wave.
Price might go up because of other reasons, but if u r pure wolfe trader, than this chart is wrong one.

Because:

point 5 is not valid on trendline 1-3.

Take care,
Winston

Ajax · #**122** 8th June 2007, 09:29 AM

Hi all

RCOM hourly chart shows brk out from triangle and a pull back
Target Rs. 560
Regards

Ajax

Ajax · #**123** 8th June 2007, 10:06 AM

Hi wolves

Have a relook at TCS hourly chart from BSE data feed

ANy wolfe wave here ??

Ajax

winstonn · #**124** 8th June 2007, 10:52 AM

Hi Ajax the super wolfe!

TCS wolfe wave is very interesting.

NSE data does not agree with the wolfe formation
BSE data does agree and see the target area in below chart.

frankly , i am encountered with this phenomenon.....let's see wht happens
i remmember the Dow Rule ' the two averages must confirm '
here the two exchange data do not confirm........

Any ways, this could be a great learning oppor.

Take care,
Winston

Ajax · #**125** 8th June 2007, 07:52 PM

Hi winstonn

I would be super wolfe one day, only if I have the discipline
with which u dissect each pattern. Till then....

I always rely on BSE feed for charting as it is relatively clean, no abnormal/ freak
openings, no circular trading etc ( atleast till now).

NSE trades have freak openings ( either up or own). What I have figures out that some smart guy{s} put up abnormally hi or deep 'limit' orders immidiately after opening of trading hours. Some novice who puts in 'market' order during this period gets trapped. As u may notice thatalmost always it is the open trade which is freak. Soon scrip starts tarding at its usual range.

Any way both BSE / NSE trading pattern almost always similar if u overlook
these freaky opens.

BTW TCS from BSE almost formed a super wolfe pattern 1 2 3 4 5 6 7
I thick TCS should go places. I am in it
Infact all SW co. Infy. wipro. polaris etc are all up in this weak mkt

Regards

Ajax

winstonn · #**126** 8th June 2007, 08:27 PM

Hi Ajax,

you are right!
well, i am sad that the wolfe waves are not getting encouraging replies....inspite of their HIGH REWARD / LOW RISK fruit..........
everyone are behind some indicators or filters..

lemme tell you a short analogy:

Mom and son approaches a Doctor since son is ill.
Now case i)

son ( price ) is ill , mom ( indicator )has only just accompanied him, but the Doctor ( trader ) makes and analysis by only asking mom about the symptoms of her son's illness, he just looks at son from distance.

case II)

Doctor analysis directly son .

Which way doctor would be more successfull?

Approaching price is the best way to trade.....and wolfe waves are direct price analysis.

Hey!!!!!but you must be a skilled doctor also!!!!!

Take care,
Winston

RSI · #**127** 8th June 2007, 10:11 PM

Quote:

Originally Posted by winstonn

Hi Ajax,

you are right!
well, i am sad that the wolfe waves are not getting encouraging replies....inspite of their HIGH REWARD / LOW RISK fruit..........
everyone are behind some indicators or filters..

lemme tell you a short analogy:

Mom and son approaches a Doctor since son is ill.
Now case i)

son ( price ) is ill , mom ( indicator )has only just accompanied him, but the Doctor ( trader ) makes and analysis by only asking mom about the symptoms of her son's illness, he just looks at son from distance.

case II)

Doctor analysis directly son .

Which way doctor would be more successfull?

Approaching price is the best way to trade.....and wolfe waves are direct price analysis.

Hey!!!!!but you must be a skilled doctor also!!!!!

Take care,
Winston

Now a days in many hospitals and nursing homes doctors are not interested in analysing either the son or the mother. Only their pockets will be analysed from every possible angle and if they find any money there will be many tests to extract as much as possible.

marcus · #**128** 10th June 2007, 05:02 AM

Ajay your KISS techniques are just amazing simple yet effective look forward to more from you

kindman · #**129** 10th June 2007, 07:51 AM

Tcs See It Has Two Triangle Resistance At Rs 1220 .. 1260

So U Can Go Long Only Above 1260 Target = 1300 .. If It Beaks Then 1400 Levels

If I Am Wrong Plz Give Me Proper Advice

marcus · #**130** 10th June 2007, 01:31 PM

Actually Mr. Wolfe says from all the wolfe waves he's ever seen on the internet not a single one has been drawn correctly, according to him we must first identify point 2 according to him identifying the top first is necessary for the umm "inductive analysis" whatever that means.

Justin Kuepper's article on wolfe wave in investopedia is his own interpretation and not Mr. wolfe's, Mr Wolfe clearly says "point 3 must be the bottom of the first decline" in fig 3 of the investopedia article point 3 dosen't appear to be the bottom of the first decline it should have been more to the left, seniors please correct me if I'm wrong.

If this is the case its not surprising Mr Wolfe says he hasn't seen a single wolfe wave correctly drawn, I guess a lot of people identify patterns which look like wolfe waves but aren't so as per the exact rules, and when they work by chance they assume it to be an exact wolfe wave.

Another reason Mr. Wolfe says this could be because he wants to sell his course for $3000.