Wolfe Waves
- Thread starter chheda
- Start date
- Tags wolfe wolfe wave
USD INR
There is -WW in USDINR. This is a monthly chart. Have a look @ -ve divergence chart with RSI in this chart. This is class I divergence.Look the white lines in the chart. Trade must be initiated after the candle gets closed inside the UTL
There is -WW in USDINR. This is a monthly chart. Have a look @ -ve divergence chart with RSI in this chart. This is class I divergence.Look the white lines in the chart. Trade must be initiated after the candle gets closed inside the UTL
This is a common mistake ppl make when spotting WW initially ( even I was prone to it in early days
)Point 4 needs to be below point 1 in a rising wedge.
Easy way to avoid this is always remember - WW targets are contrary trend targets and the 1-4 target line must have opposite slope of trend and wedge direction
Best of luck
ps - IFCI looks good as a ww but the HnS is a little disconcerting - although if the HnS does play out, the target for the scrip is like Rs 4 which I doubt but who knows
Actually A1B1Trader I was positionally short on hrly basis from 19th morning...yes it gave a bullish close on the day end on 19th and I did not get out as my SL not touched...so that way I got benefited...nothing else...
till today I did not close my short but some how I feel it should be closed at day end as we might see gap up in the morning...
and DPKAUR are right myself also seen 5625 was the support zone for NF...so let's see what monday will bring to me...
till today I did not close my short but some how I feel it should be closed at day end as we might see gap up in the morning...
and DPKAUR are right myself also seen 5625 was the support zone for NF...so let's see what monday will bring to me...
Actually A1B1Trader I was positionally short on hrly basis from 19th morning...yes it gave a bullish close on the day end on 19th and I did not get out as my SL not touched...so that way I got benefited...nothing else...
till today I did not close my short but some how I feel it should be closed at day end as we might see gap up in the morning...
and DPKAUR are right as myself also seen 5625 was the support zone for NF...so let's see what monday will bring to me...
till today I did not close my short but some how I feel it should be closed at day end as we might see gap up in the morning...
and DPKAUR are right as myself also seen 5625 was the support zone for NF...so let's see what monday will bring to me...
Hi DPK,
This is a common mistake ppl make when spotting WW initially ( even I was prone to it in early days )
Point 4 needs to be below point 1 in a rising wedge.
Easy way to avoid this is always remember - WW targets are contrary trend targets and the 1-4 target line must have opposite slope of trend and wedge direction
Best of luck
ps - IFCI looks good as a ww but the HnS is a little disconcerting - although if the HnS does play out, the target for the scrip is like Rs 4 which I doubt but who knows
This is a common mistake ppl make when spotting WW initially ( even I was prone to it in early days
)Point 4 needs to be below point 1 in a rising wedge.
Easy way to avoid this is always remember - WW targets are contrary trend targets and the 1-4 target line must have opposite slope of trend and wedge direction
Best of luck
ps - IFCI looks good as a ww but the HnS is a little disconcerting - although if the HnS does play out, the target for the scrip is like Rs 4 which I doubt but who knows
And some possible +wolfe waves.
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