Wolfe Waves

vvvv · #**101** 27th May 2008, 07:42 AM

Quote:

Originally Posted by RANJITSINGH66

HELLO FRIENDS,
i am posting a chart of nifty. i think it is going to form wolfe wave. please post your comments

thts a bullish wolfe wave u hav shown. pt 5 is not yet formed but u have shown the trend line where it can be formed.i had found out the pattern long time back..but did not believe in it..do u really believe nifty will fall so low & bounce back again to it highs..chances are very rare...taking a position just on this basis wud be foolhardiness.
let the experts shed sum light...if nifty falls so low , makes piont 5 on the trendline & then bounces back, then maybe a wolf wave is confirmed...but again im not sure?????

moneygurukul · #**102** 27th May 2008, 12:52 PM

Quote:

Originally Posted by RANJITSINGH66

HELLO FRIENDS,
i am posting a chart of nifty. i think it is going to form wolfe wave. please post your comments

IMHO, Sensex has a better chance of making a WW than NIFTY. Leaving the panic selling bottom may not be prudent as Wolfe Wave is a pattern which associates itself with extended trends (exuberance of the traders.).

vvvv · #**103** 27th May 2008, 01:33 PM

Quote:

Originally Posted by moneygurukul

IMHO, Sensex has a better chance of making a WW than NIFTY. Leaving the panic selling bottom may not be prudent as Wolfe Wave is a pattern which associates itself with extended trends (exuberance of the traders.).

ur projecting a target of around 14000 for point 5..is it advisable to take a short now for 14000....where are the wolf exerts????

moneygurukul · #**104** 27th May 2008, 01:47 PM

Quote:

Originally Posted by vvvv

ur projecting a target of around 14000 for point 5..is it advisable to take a short now for 14000....where are the wolf exerts????

Wolfe Wave does not predict that price will fall to a particular line. It comes into action only when the point 5 has been created. However, that is the channel target but shorting now will have a very distant stop.

deb99891 · #**105** 27th May 2008, 03:50 PM

Quote:

Originally Posted by moneygurukul

Wolfe Wave does not predict that price will fall to a particular line. It comes into action only when the point 5 has been created. However, that is the channel target but shorting now will have a very distant stop.

btw we can do anything in the market with our own trading capital.
but unless the point 5 is formed in a straight line with point 1 n 3 there is no WW formation.
i can not understand the thing shortin at point 4 for the tgt of point 5 then again go long at point 5 for the tgt of point 6.
that is just accurately spinnin the ball my way?????????????in the market??
for a mere (would be)chart formation???? WW ????????
too complex to understand and too risky to on the trade.

moneygurukul · #**106** 27th May 2008, 04:19 PM

Quote:

Originally Posted by deb99891

btw we can do anything in the market with our own trading capital.
but unless the point 5 is formed in a straight line with point 1 n 3 there is no WW formation.
i can not understand the thing shortin at point 4 for the tgt of point 5 then again go long at point 5 for the tgt of point 6.
that is just accurately spinnin the ball my way?????????????in the market??
for a mere (would be)chart formation???? WW ????????
too complex to understand and too risky to on the trade.

You are very right about WW. There is a likelyhood of WW formation if 1-3-5 meet on a downward sloping line else there won't be any WW.

However, we are not anticipating point 4 here or anticipating that WW will form. As the price was resisted at the parellel line of a downward sloping trend-line, that trendline can be used to short the market with very limited risk. (The pattern here is a channel and now WW. WW may or may not form).

Though I am not an avid WW practisoner, I have found it to be one of the least risky formations.

vvvv · #**107** 27th May 2008, 04:34 PM

can sum1 post any pic of a WW formation taking place now

Czar · #**108** 29th May 2008, 10:30 AM

Bullish wolfe... target around 5300

joining the 2 tops 2nd may & 16 may & bottoms 24 april + 12 may + 27 may....

somehow cant post image...

moneygurukul · #**109** 29th May 2008, 11:24 AM

Quote:

Originally Posted by Czar

Bullish wolfe... target around 5300

joining the 2 tops 2nd may & 16 may & bottoms 24 april + 12 may + 27 may....

somehow cant post image...

More prominent on Hourly Chart,chart attached. But Bullish WW can form only after a fall in prices and not after rise in prices.

siddhakala · #**110** 5th June 2008, 06:51 PM

Hello MoneyGurukul,

Is this an example of failure of Wolfe wave?

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