Wolfe Wave

[Arjun20]

arjun,
another confusion I had was regarding parallel channels.
some of the charts at voodootrader are appearing like parallel channels.
can we consider them also as valid WW?

I too have seen them. Not only parallel, but diverging too.

But tell me, is there scarcity of waves ? You will find 'n' number of waves which satisfy all rules. Next task is to identify 'good' waves out of them.
Then, why we need to go for parallel/diverging channels ?

 

[prst]

 

[sunny_cool]

Nop my friend distance between 1,3 is much more than 3,5
1,4 line will be very steep
Not good symmetry
No volume indication

 

[internet_fanbboy]

Not very Good Symmetry but might work out, Lets see. [Minor resistance @ 340 can act as a good SL on hourly closing basis]

 

[prabhsingh]

Can we get the WW image of Gail from Charkink instead of Amibroker please?

 

[internet_fanbboy]

HUL Hourly

Here Point 5 is a bit off but HUL is in UpTrend in Daily & is trading near EMA50 so this could work out. If price decides to pop up from the ema50 then we could see prices above target.

 

[timepass]

Gail Futures, is it ? Here's the image from TradeTiger, draw the WW please (I am not good at WW).

Not very Good Symmetry but might work out, Lets see. [Minor resistance @ 340 can act as a good SL on hourly closing basis]

Can we get the WW image of Gail from Charkink instead of Amibroker please?

 

[internet_fanbboy]

Hi TP,

Please find the image below,

Cheers !!
IF

Gail Futures, is it ? Here's the image from TradeTiger, draw the WW please (I am not good at WW).

 

[prabhsingh]

Is the trend again down for Gail then?

 

[internet_fanbboy]

Is the trend again down for Gail then?

Yes the trend for GAIL on Daily Charts is down unless 340 is taken out.

As for WW, We have almost reached the target.