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Dear waveslider

You answered my next question before it was asked

Point 2 must be a recent high. Now I can see why the pattern is weak!!And there are four points at the top. I was lucky. I actually traded a failed wolfe wave.

Now you mentioned trading a failed wolfewave.

Please have a another look at my chart.

Going long would not have reached the target. It failed

But it will have to retrace some before you decide it has failed

How would you decide that?

Kind regards

bobc

 

You generally want to see extreme momentum on your side. The idea is that all the traders who are on the other side of your trade are panicking to exit their position, and this is driving price. If the trade does not maintain this momentum, I have found that failed WW patterns begin to have wide swings around the 1-3 line. Volatility is in a high state and the chop is large.

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Hi waveslider

New chart

Please check if the pattern is a wolfewave

Please also comment on my entry and exit

I bought 3 contracts when the bar closed above the moving average

I sold when the bar closed below my floor pivot for the second time

Total gain 62 points at $6 each

kind regards

bobc

5aa710ae071fb_SouthAfrica40(ZAR2MicroContract(-).png.790ecbbe93ea596648705e3b6d53332f.png

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Hi waveslider

New chart

Please check if the pattern is a wolfewave

Please also comment on my entry and exit

I bought 3 contracts when the bar closed above the moving average

I sold when the bar closed below my floor pivot for the second time

Total gain 62 points at $6 each

kind regards

bobc

 

not seeing it bob -

your #2 point should be at an extreme.

go back and study the pattern some more, your numbering looks incorrect. I don't see the entry

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Thanks for your input waveslider.

The software does it automatically in TS. Of course you have to cherry pick. With this one, I have noticed volume coming in with triangle breakout yesterday and today crossing 50MA . So some +...

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Thanks for your input waveslider.

The software does it automatically in TS. Of course you have to cherry pick. With this one, I have noticed volume coming in with triangle breakout yesterday and today crossing 50MA . So some +...

 

I have that indicator in tradestation, it's always been buggy for me - what about you?

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not seeing it bob -

your #2 point should be at an extreme.

go back and study the pattern some more, your numbering looks incorrect. I don't see the entry

 

Thank you

@#$%

Back to the drawing board

bobc

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Looking good......Message is too short I guess I should be ok now?

Hi Dylkay

Looks like a wolfe wave to me .

Maybe the slope is too steep down.

But waveslider is the local guru so we must accept his opinion or stop asking for his help.

But just imagine if the price of Uranium doubles as projected .

I would rename your pattern . Lets call it the Dylan wave, and take the trade.

And for this solid advice I would expect a trip on your new yacht

regards

bobc

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Hi Dylkay

Looks like a wolfe wave to me .

Maybe the slope is too steep down.

But waveslider is the local guru so we must accept his opinion or stop asking for his help.

But just imagine if the price of Uranium doubles as projected .

I would rename your pattern . Lets call it the Dylan wave, and take the trade.

And for this solid advice I would expect a trip on your new yacht

regards

bobc

 

Hi Bobcollett,

Did we hit the target? Wow, I am glad I posted this one. It shows how powerfull this pattern can be. Next one we'll call it Kayla wave. ; ))

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looks to be a coil with a fakeout higher, overall a bearish pattern, but not a ww.

 

Point #2 should be where your point #1 is - Point #2 is always a major high/low. Keep studying. Look for Pt #2 to be a failed push to new levels.

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Two successful ones in a row.

 

Green one is labeled with numbers, Red labeled with letters.

 

Notice that the "2", and "b" points stuck out of the range. After that I was looking for the failure at point 5 and point e .

5aa710b0a7786_ScreenHunter_01Oct_2810_03.gif.b8db4d4012413282a1967a65671e6507.gif

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