Wolfe

[hesychast85 10]

Bravo on the Swissy Tresor!! I guess there is some disagreement out there about the 1-3 and 2-4 converging lines rule. Yes, MM=money manangement and RR= risk reward. Throw Psych in there probably more than anything. Maybe it is because I am looking for a solid set up technique to set my trading rules around, and have not found it yet. I do love the idea of patterns. They seem to be somewhat of a "fixed thing" you can hang your hat on. After learning patterns, I hope to add Gann Fans to my trading in the distant future. Thank you for everyone's input in this great thread. Happy trading,

 

Ron

[Guest Tresor]

Bravo on the Swissy Tresor!! I guess there is some disagreement out there about the 1-3 and 2-4 converging lines rule. Yes, MM=money manangement and RR= risk reward. Throw Psych in there probably more than anything. Maybe it is because I am looking for a solid set up technique to set my trading rules around, and have not found it yet. I do love the idea of patterns. They seem to be somewhat of a "fixed thing" you can hang your hat on. After learning patterns, I hope to add Gann Fans to my trading in the distant future. Thank you for everyone's input in this great thread. Happy trading,

 

Ron

 

MM is important. Forget Fib retracement and Gan fans. These are just for fun. Also forget indicators.

 

Consider the tip I gave you on one of the pairs. The price is now in point 5 (it may go higher for a few hours / days, which sometimes happen, but eventually should go in your direction). Short it with 0.01 lot or with paper money.

 

When you earn a few bucks after a couple of days, relax, smoke a joint and wait for another such Wolfe

 

P.S. Of course be carefull, Wolfes fail sometimes. When I am in a Wolfe non-converging trade I will post a screenshot.

[Guest Tresor]

As promised, a picture of non-converging Wolfe in trade. Actually, two such Wolfes, one after another. I didn't keep the trade to EPA because I had to get some sleep. Good sleep is worth more than a few bucks

[Guest Tresor]

As expected the price reached EPA Ths was a nice Wolfe.

[shrike 10]

Hi to everyone

thanks to share your idea on wolfe patterns, i'm learning new point of view on market .

 

what do you think about draw trendlines from close , instead that from high or low ?

[shrike 10]

Will be a Wolfe ?

[Guest Tresor]

Will be a Wolfe ?

 

What you posted is a range bar resolution. Can you repost on a time resolution?

[shrike 10]

Hi Tresor

do you think Wolfe Wave doesn't work with range bar resolution ?

I like this kind of resolution for intraday

[Guest Tresor]

It should work, but I prefer time resolutions.

[shrike 10]

Hi

if i see with a time resolution , now , i see maybe a short formation , on a 5M chart

[Guest Tresor]

Hard to say. I don't see your chart.

[BlowFish 10]

Nice to see your setups Tresor. I wonder if you (or any other WW's) might talk a little about how you might manage them. A nice thing about WW's are that the target is implicit but as price can often move a way beyond the initial entry point initial stops can be tricky.

[Guest Tresor]

A nice thing about WW's are that the target is implicit but as price can often move a way beyond the initial entry point initial stops can be tricky.

 

If a Wolfe that I am trading is not a perfect one, I just draw a trendline in the direction from point 5 to EPA. If the trendline is broken I exit the trade. If a cunter wave is formed I exit the current trade and trade the new wave.

[BlowFish 10]

Thanks, nice and simple perhaps if you post any more charts you might mark that? A picture paints etc etc.

[Guest Tresor]

Everybody likes that. Easy and simple to remember

 

The yellow line is the trade management's trendline.

[shrike 10]

Hi Tresor

 

sorry i didn't post the charts :doh: , i meant ES 5min chart .

 

last chart you posted has 2 Wolfe , former bearish and the latter bullish,?

[BlowFish 10]

Everybody likes that. Easy and simple to remember

 

The yellow line is the trade management's trendline.

 

Hmm not sure I completely see that.....it would not have existed yet at the entry point if I am reading your chart correctly? (Probably I am not). Incidentally I see this thread has been going over 2 years now!!

[Guest Tresor]

Hi Tresor

 

last chart you posted has 2 Wolfe , former bearish and the latter bullish,?

 

You mean something like this? Blue being a bearish one and red being a bullish one?

[shrike 10]

yes tresor right, i've seen well ?

[Guest Tresor]

yes tresor right, i've seen well ?

 

You have a good eye with one reservation: the blue bearish something has 4 components of a Wolfe that has 100% odds of reaching EPA. The red one has only two such components, so I would estimate that the chances the red one reaches EPA are 50% or less.

[BlowFish 10]

Not sure if I am on the right track I guess the trade is somewhere round where I marked. The way I see it the stop line could not be drawn until the trade was half way done. Just wondered how you handled initial entry and stop? (some sort of price action perhaps?)

 

Edit: I added a couple of stop lines that might have been considered sooner but where quite steep.

[Guest Tresor]

Not sure if I am on the right track I guess the trade is somewhere round where I marked.

 

You marked the trade correctly. Only I was a bit late for the trade. Was doing other stuff in the meantime.

 

The way I see it the stop line could not be drawn until the trade was half way done. Just wondered how you handled initial entry and stop? (some sort of price action perhaps?)

 

I exited when I needed to sleep. Otherwise I would not mind the bumb that occured. Such bumps are quite frequent on the way to EPA.

 

Edit: I added a couple of stop lines that might have been considered sooner but where quite steep.

 

The lines are okay.

[shrike 10]

Trevor thanks for your tips

 

today, (evening here ) ES seems dead :helloooo:

[Guest Tresor]

yes tresor right, i've seen well ?

 

It seems like the red something that looks like Wolfe is about to hit the EPA. You realy have a good eye.

 

Now, consider shorting (paper money only) the orange one if the red EPA is hit and if orange turns into Wolfe.

[Guest Tresor]

Okay. The orange price action has not transormed into a Wolfe (at least not now). It would be masochistic to look at it any further on Friday night. Have a nice weekend guys.