Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Recommended Posts

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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....

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Crypto hype is everywhere since it also making new riches as well, i however trade crypto little as compared to other forex trading pairs.
    • The ewallets can be instant withdrawals like skrill etc or they can also pay through crypto but not tested their crypto withdrawals so far.
    • I noticed that this broker has also started crypto cfds to trade. Crypto fever is almost everywhere in my opinion and the traders making good sums of money too.
    • MDLZ Mondelez stock, nice rally off the 64.18 support area at https://stockconsultant.com/?MDLZ
    • Date: 27th March 2025.   SNP500 Erases Gains as Trump’s Aggressive Trade Policy Shakes Markets   The SNP500 fell 1.35% on Wednesday wiping off the gains from the week. The decline is primarily due to fears of the upcoming US trade policy on April 2nd and beyond. In the President’s latest speech investors heard Trump confirm he looks to tax foreign cars with 25% tariffs and will add retaliation tariffs on Canada and the EU if they look to retaliate. The US Latest Comments On Global Trade The main concern for investors is the US President’s latest comments on the EU potentially collaborating with Canada. The two countries are aiming to push the US into a more favourable trade agreement. Donald Trump states that “if the EU works with Canada in order to do economic harm to the USA, large scale tariffs far larger than currently planned will be placed on both”. Up to now, both Canada and the EU have advised markets that they will retaliate. As a result, investors fear how these policies can trigger lower consumer demand, higher inflation and even a potential recession. The latest consumer confidence fell for the fourth day to 92.9, missing the 94.2 forecast. The economic outlook dropped to 65.2, a 12-year low, staying below the 80.0 recession warning level. However, the Federal Reserve so far in 2025 is advising the US economy remains stable despite the uncertainties. Furthermore, the US confirms they intend to impose a 25% tariff on all car imports and essential parts, including engines, transmissions, and electrical components. Many countries have already voiced their concerns over this decision.   Where Automakers Build Cars Sold in America   The Federal Reserve and Inflation Chicago Fed President Austan Goolsbee stated yesterday that policymakers may postpone monetary easing for 12 to 18 months due to market uncertainty. He also continues warning that rising inflation expectations could complicate efforts to slow it down. Another member to voice concerns is Alberto Musalem, a US economist and banker. The risk of US inflation remaining above the Fed’s 2% target, or even increasing, continues to grow, with higher import taxes potentially driving sustained price pressures. In the latest month, US inflation fell from 3.00% to 2.8% which is positive for the stock market, but only if it continues to fall towards 2.00%. There is currently only a 10% chance of an interest rate cut in May 2025 according to the Chicago Exchange. Economists advise the upcoming data will be vital and can significantly influence the risk appetite of the market. Traders will be focusing on today’s Final US GDP and tomorrow's Core PCE Price Index. If tomorrow’s PCE Price Index reads more than 0.3%, the stock market could quickly witness renewed pressure. SNP500 (USA500) - Technical Analysis Regardless of the above fundamental factors which are triggering the recent decline, the SNP500 has risen 0.35% during this morning’s Asian session. The bullish corrective wave currently measures 40% of yesterday’s bearish impulse wave. Though traders should also note that global indices including within the EU and Asia are continuing to decline.   SNP500 (USA100) 1-Hour Chart   The price in a 15-minute timeframe remains below most trend lines and Moving Averages. In addition to this, the price is again dropping below the neutral level of the RSI and the VWAP. If the price regains downward momentum and falls below $5,701.98, many traders may consider bearish momentum to be regaining ground. At this point, sell signals potentially can materialize. Further adding to the indications of downward price movement is the VIX index which is currently trading 0.60% higher. The higher the VIX index the lower the appetite there is towards the US stock market. Lastly, the US 10-Year Treasury Yields continue to rise adding further pressure on the stock market. The 10 Year Treasury Yields are currently trading 25 points higher. Key Takeaway Levels: The SNP500 dropped 1.35% as investors reacted to fears surrounding the upcoming US trade policy changes on April 2nd. This includes a potential 25% tariff on foreign cars and retaliatory tariffs against Canada and the EU. Fed officials warn that inflation risks remain high, with import tariffs potentially driving further price pressures. Inflation recently fell to 2.8%, but concerns persist about whether it will reach the Fed’s 2% target. Traders are closely monitoring upcoming US GDP and Core PCE Price Index data. If PCE exceeds 0.3%, stocks could face renewed pressure. Despite a slight rebound in the SNP500, indicators like RSI, VWAP, and the rising VIX index suggest bearish momentum could return, particularly if the index falls below $5,701.98. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.