Wolfe Wave


Active Member
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 ?
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.

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?

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