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Bubba, couple of questions:

1) your chart says, "Tradestation chart" but the symbol is wrong for it to be TS. It should be ESH09, not ES H9. Only reason I'm asking is to figure out what sort of charting you're using. Would that be Multicharts, perchance? Just curoius.

2) I've got a Gartley indicator on my Tradestation chart, and it's not picking up the Gartley that you're showing. I think that point C is too low for a traditional Gartley...but then again I'm no expert. BTW, I'm counting my points the "traditional" way for Gartleys (X-A-B-C-D). The attachment to this post shows the Inputs for my Gartley. Does yours look anything at all like this?

 

I just realized that my post is doubly off topic. Oh well. I won't make a habit of it.

Tasuki

5aa70eb27f909_GartleyInputs.png.bcad27eb3eea2529563b96796997b62d.png

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Tasuki - i use tradestation 2000i. the symbol is the proper setting for my setup with IB data feed. that's the difference.

 

i suspect our gartley indicator is the same. here's my parameters. i'm even worse on these than i am w/ WWs. :)

parameters.png.f7503fecc0c217e6c80d5f393e34394b.png

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Here are @YM Wolfe Waves (Not perfect but potential WW).. The first Chart (12.40p) I traded today (not because of WWs) but I watched it unfold in RT. I like certain aspects of WW and its predictability so far....

 

Regards,

Suri

WW_Feb180918.gif.b4749aea4bea37af1646cf5ecc13a9cb.gif

YM_WW_Feb1809.gif.855107ad08cc9c2dd4706e4e4b83e222.gif

Edited by suriNotes

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here's what i think is a pretty classic WW.. but again, take it w/ a grain of salt :)

 

nice descending wedge w/ well proportioned swings.

 

(now, i better get out my "Trade Chart Patterns Like a Pro" and study that ABC.)

 

/just noticed i labeled point 3 as "2".. gawd, sry

NQ4600v.png.9c2739e04c10a2a6be75274dda5c434e.png

Edited by bubba

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here's the follow up on last nights ww. text-book example maybe? maybe one of the seasoned WW'ers will comment..

 

/fixed the labels too

target.png.d6ff7bc0cf9bd89f6f5d6fbf06657382.png

Edited by bubba

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Hi bubba,

 

Here is @ES X5 Pattern formation...

 

Usually in X5 patterns, the retracement of "B" gives a clue of what type of Pattern it may be forming. There are other rules it may have to form. But when "B" is retraced beyond 61.8% (Gartley), it may be suggesting a potential Butterfly or Crab pattern.

 

In this chart, B is 71%, suggesting may be a Butterfly (near 127% to 684) or Crab (near 162% to 614).

 

BTW, thanks for your kind comments about my book.

 

Regards,

Suri

 

 

noticed this pattern when i got home this evening. i haven't seen 1 of these on the daily before. anyone considering buying this low? i don't know about this 1

:confused:

 

(not that i KNOW about any of them of course)

suriStrings3.gif.3172dff6d12098572cb4adff6c85a89f.gif

Edited by suriNotes

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Gold's Wolfe Wave with ABC Bullish Pattern Update...

 

Regards,

Suri

 

 

Here is Gold's Wolfe Wave pattern to watch...

 

First Chart from Jan. 24th, 2009.

Second chart is an Update on Feb. 10th, 2009.

 

Regards,

Suri

GOLD_WW_ABC_Feb2009.gif.308f9f083ced39bf48b4c1f53c76b756.gif

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Hi bubba,

 

Here is @ES X5 Pattern formation...

 

Usually in X5 patterns, the retracement of "B" gives a clue of what type of Pattern it may be forming. There are other rules it may have to form. But when "B" is retraced beyond 61.8% (Gartley), it may be suggesting a potential Butterfly or Crab pattern.

 

In this chart, B is 71%, suggesting may be a Butterfly (near 127% to 684) or Crab (near 162% to 614).

 

BTW, thanks for your kind comments about my book.

 

Regards,

Suri

 

thanks for the chart and explanation Suri.. very helpful.

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Suri -

WW works best in choppy sideways markets - not trending. The run from 4 to 5 was too long. The move from 4-5 should be short and violent - scaring out the people who bought at pt. 4.

 

This is a chart of SPY 20 min.

 

There is a potential WW forming that could work nicely. Note pt 2 is a major high. Lots of overlap in the waves which means range. The move to pt. 5 is beginning rapidly, will momentum continue tomorrow morning?

 

The danger in this trade is the higher time frame - this is the top of a huge range, and a large channel. The peak last week formed at a perfect timing pt - (see the conversation on Andrews pitchfork where we marked the recent top).

 

If last weeks peak was the top, then the next andrews line points steeply down.

 

In the case of WW, the higher time frame always overrules. This one you have to be careful on and watch closely as the purple 1-3 line is broken.

5aa70ec7f02db_ScreenHunter_02Apr_2214_55.thumb.gif.0d160830b95a2fedf9684257110e7cc3.gif

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wave slider i want to thank you for this great thread

 

here i m posting two WW of same security of different time frame in all the criteria both look good but in opposite nature

what is your view about the same i will update as they unfolds

 

first one is 15-min & second 5-min

 

if something like this happened which you prefer

I am daytrader i like WW because of its high RRR(risk reward ratio)

5aa70ec8066cd_nifty15-min.JPG.f2689b295ab6e5a92bccfe3d246d5972.JPG

5aa70ec80a11d_nifty5-min.JPG.a786cc47fb18e50de12d47c6146c8aa5.JPG

Edited by taq

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Glad this thread got this pattern in my head - did anyone else catch this classic one today in ES?

It was good for about 6 points, just picture perfect trade.

 

Taq-

 

look for ranging situations. The 1-3 lines you draw are very steep.

 

Also use the pivot low/high instead of vaguely drawing through bars. It is important to realize why the pattern is working and see the psychology of the crowd.

 

I don't think those patterns you sent are valid. Study the pattern I have here...

5aa70ec82e178_ScreenHunter_02Apr_2317_32.thumb.gif.ee7d54e2e429626587d7d5fd4e793a51.gif

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also the updated chart of NIFTY (NSE India) Index future

 

we are strugling to cross point 2

let us see how it unfolds

5aa70ec848087_nifty15-min24-04.JPG.3b4632638dd02e42d339a66c32fcc84f.JPG

Edited by taq

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Suri,

I think you're still missing the psychology of the WW. I think I've gone over some of this somewhere in a previous post on this thread, but a brief example---point #2 is supposed to the lowest low or highest high for quite some time---it's a "fear-factor" pivot that drives traders to unwillingly get out of their positions at exactly the wrong moment.

Whenever I'm looking for a WW, pivot #2 is the "sore thumb" I look for--it sticks out as plain as day. I don't see that "sore thumb" look in the potential WW you have shown for the ES.

Hope this helps,

Tasuki

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Agree with you Tasuki, these are not wolfe waves. The reason for the pattern's success is the psychology, as you stated. There has to be strong participation "washing" people out and getting them positioned on the wrong side of the mkt.

Pt. #2 (bearish scenario) should look to bulls like a bottom. Pt.#4 should look like a higher low potentially giving a confirmation of a bottom.

Then it all falls apart and the wolves take over (supposedly).

 

Most important is that this pattern happens in a ranging situation- a trend on a higher time frame negates the pattern....

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Hi Tasuki and Waveslider,

 

I agree with both of you... I was bit doubtful of WW and need to know

lot more about WWs. But I also had other reasons to trade this pattern.

Perhaps this could be a variation of a Broadening Pattern??

 

See how overall the pattern resulted. I will post few other pics and

how the setup was anticipated. I did have help from

ABC Bearish/H&S Setups (from previous posts) also.

 

Thanks for your insights.

 

Regards,

Suri

 

attachment.php?attachmentid=11384&stc=1&d=1245106255

 

attachment.php?attachmentid=11385&stc=1&d=1245106255

ES_WW_Trades.gif.23a54978f15cb676404d0ad1ee274dfc.gif

TrendAnticiaption.gif.3dabe3af6739387f2bcb895afb35237e.gif

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