Wolfe Waves

[Raghuveer]

Failed!

Second time I saw ww failing wheneve I m taking 1 from gap, it seems taking GAP sounds more failure than success, though I do not have any statistics!

In this +ww, what should have been my sl?

1-4 line is not always reached. This +WW can be considered ok since it reached point 4.

1. When price reached near 2-4 line or point 4 you could have moved SL to breakeven.

2. Another approach is to keep taking partial profits at each target (2-4 line, point 4, other main S/R, 1-4 line) and move SL to BE on remaining portion.

3. You could also have moved SL to higher PL (NF 6130 at 12:35) after it was formed.

Where was your entry, SL?

 

[Raghuveer]

is below chart for MCDOWELL-N ?

 

[stockstopp]

1-4 line is not always reached. This +WW can be considered ok since it reached point 4.

1. When price reached near 2-4 line or point 4 you could have moved SL to breakeven.

2. Another approach is to keep taking partial profits at each target (2-4 line, point 4, other main S/R, 1-4 line) and move SL to BE on remaining portion.

3. You could also have moved SL to higher PL (NF 6130 at 12:35) after it was formed.

Where was your entry, SL?

I agree about putting TSL, but generally ww hits target in major cases right?

1)What should be ideal sl in case if we enter in sweet zone?
2)Does a considering point 1 on gap has less success.
For my entery and sl, check attachment.

 

[stockstopp]

is below chart for MCDOWELL-N ?

Yes! I think upmove is over in it!

 

[Raghuveer]

I agree about putting TSL, but generally ww hits target in major cases right?

yes, WW has a higher probability of success. targets = S/R LINES, point 4, 1-4 line. target is not just 1-4 line.

1)What should be ideal sl in case if we enter in sweet zone?

SL in sweet zone if entry is before point 5 (PH/PL) is formed:
Don't know. Hope someone else will answer this question.
I enter after candlestick confirmation in same or lower TF with SL as PH/PL or 1 or 2 candles back.

(Never tried these as SL in sweet zone)
my guess1: line parallel to 2-4 passing through point 3 or point 1.
my guess2: fixed number of points as per your tolerance.

2)Does a considering point 1 on gap has less success.

yes, point 1 on gap might have a little less success. But that's no reason to avoid them. Just keep a tighter SL.

For my entery and sl, check attachment.

your entry is not marked on the chart.

 

[gambler]

For entry and stop loss: I think its always better to enter ww when hh and hl is formed in lower time frame for longs and vice versa for shorts.

Rest experts can suggest.

 

[winstonn]

my 2 cents on wave waves.....

after many years of research on ww's-from intraday formation to daily and higher time frames, below are some really important points to observe for a high probability winner

let's talk for long trades-

1) points 1, 3, 5 must stand out as distinct swing points
2) if a structure where support turns resistance is spot while formation of waves 1, 3, 5, IGNORE the ww's
3) if ww's are forming in a market preceded by STRONG DOWN move, IGNORE the ww
4) the more volatile the ww's, more potent is the target to be achieved
5) 1-3-5 need not be symmetrical

6) This is the most important factor - when ww is spotted, go to 4 to 5 times higher time frame and see whether there is DEMAND ZONE or POTENTIAL SUPPORT area. WW's which are forming in DEMAND ZONE on higher time frame have great success rate

7) High volume activity on wave 5 can be advantageous

8) WW's with Sweet pots can be very rewarding if traded in RIGHT CONTEXT of the higher time frames

9) Both the trendlines must CONVERGE and not DIVERGE



hope this helps .........

Winston

 

[cellclinic]

Bharti WW 5th point run ?

http://www.traderji.com/technical-a...ick-analysis-no-indicators-78.html#post812149

 

[stockstopp]

USDINR:

 

[gambler]

CIPLA +WW TF:5MIN