Wolfe

[bubba 10]

a bit late maybe - sorry, but this ww has been there for a while. i expect most have viewed it.

 

[waveslider 10]

Nice to see you're on board bubba, Taz and I were discussing the same pattern in ES, looks to be the same points we're using.

This has moved about 40 pts since yesterday, good trade so far... looks to gap down tomorrow...

[Robin_malihan 10]

no wolfe wave in this , your point 1 is not right , it has to be high of the swing .

 

Robin

[waveslider 10]

Go read the manual. Bill Wolfe often uses minor rather than major swings as pt. #1. Most important is pt. #2 and pt #5

[Tasuki 10]

I'm going to agree with waveslider here. Point 1 is the least important point of the wolfe wave. What I personally do is to look for a clear violation of support or resistance, and give that pivot a tentative point 2. Then I look to see if there are clear pivots for points 3 and 4. If there's a point 5 already, I'll add that to the list. Then, finally, I'll search for a point 1, which (at least the way I do it) can be any major or minor pivot prior to wave 2 that looks approximately right.

[waveslider 10]

Nicely put. I think that's how the manual puts it too. Locate pt. 2 and 3 then look for pt 1 slightly below pt 3 for bearish opposite for bullish.

[bubba 10]

i actually have this speed chart on another machine. (an old, old dell laptop.) anyways.. you'll see the similarities i think..

[bubba 10]

dang - rebooted that old machine, and there it was.. that gartley indicator is notorious for plotting at times, then not on another..

 

just kinda partial to those patterns where both overlap like that. o well - i was working all day anyways.

[bubba 10]

another gartley indicator i recently came across.. for TS easylanguage

 

Gartley code posted by Tums

 

(can't report on real time performance just yet)

[waveslider 10]

I get it so you are looking for confirmation of a ww with a gartley pattern as target for point 5, right?

[bubba 10]

hmm

 

well, i would say that simply seeing both in the same pattern adds to the strength of the pattern. of course, i've no statistical log to support my logic. I've not seen that many actually.. maybe they occur frequently..?

[Guest Tresor]

Guys,

 

As far as trading WolfeWave goes, what is your ''good trade : bad trade ratio'' of WolfeWave trades? - 60 : 40, 70 : 30, ... : ... ?

 

Regards

[sevensa 10]

Guys,

 

As far as trading WolfeWave goes, what is your ''good trade : bad trade ratio'' of WolfeWave trades? - 60 : 40, 70 : 30, ... : ... ?

 

Regards

 

What is your definition of a bad trade and a good trade? If you follow your trading plan and rules, there is no such thing as a bad trade. If you mean Profitable:Unprofitable Trade ratio, you know that this ratio is pretty useless by itself without knowing what the risk:reward ratio is as well? Frequency of being right is far less important than expectancy.

Edited December 29, 2008 by sevensa
typo

[Guest Tresor]

What is your definition of a bad trade and a good trade? If you follow your trading plan and rules, there is no such thing as a bad trade. If you mean Profitable:Unprofitable Trade ratio, you know that this ratio is pretty useless by itself without knowing what the risk:reward ratio is as well? Frequency of being right is far less important than expectancy.

 

Hi,

 

I will leave risk / reward for later. Can you please estmate profitable vs losing trades?

[waveslider 10]

I see WW as more of a set-up than an actual trade. If I see the bigger pattern then I will trade around that pattern.

If you were using tick charts, small intervals, that would be different.

[Guest Tresor]

Thanks Waveslider.

 

Anyone, any statistics on their WolfeWave trades?

[bubba 10]

pretty nice ww in progress.. right at point 5

[Guest Tresor]

Looks like Gartley in progress

[Tasuki 10]

bubba, for our edification, could you number the WW pivots for us? I'm not exactly sure where the WW is--looks like a couple of possibilities. Thanks, Taz

[bubba 10]

there we go..

hope that helps. the gartley would have worked.. but, i would consider it triggered and completed. should have removed it i guess, for clarity.

[waveslider 10]

I've been watching that too. The higher time frames have an andrew's target a bit lower so it looks like it would take out today's lows.

I was thinking this sort of thing might happen as they started rallying it this p.m.

Look at how the 1-4 line is touched 2x on both sides of the pattern. You can see it on bubba's chart, but even better on the 1 or 2 min.

[bubba 10]

here's another time-frame.. maybe what WS referred to? i dunno.. but seems like a possibility.

Edited January 9, 2009 by bubba
eek.. thats NQ :) oh well, worth watching, my apologies

[Tasuki 10]

there we go..

hope that helps. the gartley would have worked.. but, i would consider it triggered and completed. should have removed it i guess, for clarity.

 

Thanks, bubba. Turns out I did have my numbering wrong. I was going to start the WW from the pivots of the gartley. Yours looks much cleaner.

 

Geez, we haven't watched a live WW in a while, folks. This'll be interesting to see how it plays out.

 

Taz

[waveslider 10]

That 2nd chart looks more dangerous because at that pt the market is starting to trend. Point #2 should be a major low.

 

We're looking for a quick move back into the range on this one -else a trend could develop. The pitchfork I was talking about is on the half hour chart or higher.

[waveslider 10]

oh yeah, I had 5 on. If it takes out this 885 area then it could go all the way down to the lower tine line at 840 area...