Wolfe

[bubba 10]

potential setup here - right at the close

[waveslider 10]

YOu're right, bubba - --

But for some reason my chart looks different than yours. I have the close just under the open of the day in ES.

 

I nervously put on a few shorts into the close. This is a choppy market, I'm not saying that it won't go higher in the coming weeks, but I think there will be a return at least to today's VWAP.

[bubba 10]

hmm.. probably something goofy w/ my charts. i have 24h charts &

IB data so no telling.

[waveslider 10]

This is the andrew's line for NQ. ES looks more bullish, ER2 looks like the NQ. This looks like a short term target to me.

If NQ and ER2 had more bullish targets using Andrew's, I'd be more convinced.

 

ER2 rising 3 days on declining volume. I don't buy it.

[thrunner 10]

hmm.. probably something goofy w/ my charts. i have 24h charts & IB data so no telling.

IB generally has fewer bars vs a real tick feed when imported into a tick chart. May I ask you how you are importing IB data into TS2000? Is this real time?

[bubba 10]

IB generally has fewer bars vs a real tick feed when imported into a tick chart. May I ask you how you are importing IB data into TS2000? Is this real time?

 

whoa - you certainly have more bars on yours, lol.

and is that a wolfe wave indicator? looks like it's working well.

 

i use MetaserverRT to collect/ import data to ts2000i - works good.

it's real time and has been solid, even on FOMC days.

[Tasuki 10]

whoa - you certainly have more bars on yours, lol.

and is that a wolfe wave indicator? looks like it's working well.

.

 

Some friends of mine and I did a realtime test to determine whose data was the best. We kept track of how many tick bars appeared on a chart over a given length of time. In our test, eSignal gave 80 bars, Tradestation gave 60 bars and IB gave only 40.

 

The difference, I believe, lies in the algorithms that each company uses to clean up its data and get rid of bad ticks.

 

What we should have done is to continue the test to see whether the differences actually affected our trading. I think that's an interesting experiment to do.

 

Maybe this is worthy of being the subject of a new thread. Several threads are skirting this issue now, including this one and the VSA thread.

[thrunner 10]

is that a wolfe wave indicator? looks like it's working well.

Yes, that is just the Lee Ww from this thread: http://www.traderslaboratory.com/forums/f46/wolfe-wave-indicator-needed-2686.html#post26261 with some color coding added. Just a kludge, but it does the basics. Thanks for the info; it that the IB specific version or the DDE version of MetaserverRT ?

 

The difference, I believe, lies in the algorithms that each company uses to clean up its data and get rid of bad ticks.

Thanks for the info, TZ. I believe IB only gives a snapshot of ticks at 10 times per second for futures data (previously about 3 times slower at 3 times per second). So they never claimed to give true tick data.

[bubba 10]

it that the IB specific version or the DDE version of MetaserverRT ?

 

it's the IB specific version. i believe you can download the demo version from http://www.traderssoft.com/ts/msrt/demo/ and it's usable without a time limit. can only connect 2 symbols however.

 

yeah, i hooked that indicator up..but it would appear you've managed to get better performance than me. i should fiddle with it some more.

[Tasuki 10]

Here's a WW so classic I don't even need to type in the pivot numbers.

[Tasuki 10]

Same Wolfe Wave, but here on a 5 minute chart. The pattern's not as pretty as it is on a 466 tick chart, but here (on the 5' chart) you can more easily see why this WW worked so well---see notes on chart.

[waveslider 10]

Nice one Tasuki, did you take it?

 

Here's one from this morning, ES 233 tick chart

[bubba 10]

wow, did you notice the ES closed with a bearish wolfe?

right at the entry point - again!

[Sparrow 10]

thanks for all the examples!

I found another wave trader by accident, wasn't even looking for wolfe.

It's not the best page, but maybe one can pick up one or the other thing.

[OAC 10]

I find that a Wolfe Wave failure, meaning failure to reach anywhere close to the 1-4 line after point 5 had been established, sets up some of the best bull/bear flag formations.

[waveslider 10]

Hey Bubba, can you put up a chart of what you see? OAC, do you have any examples? I think you may be right.

What I see happening with a WW failure is basically point 5 ending up moving down the line lower in a bullish scenario.

In other words, after point 5 is established, the market keeps chopping lower and you have to re-enter.

In a wolfe wave scenario, there is no trend intact - - so the market may not be ready to go up to the 1-4 line. Timing is off due to cycles on higher time frames. The ER2 example I started this thread out with was an example of this.

Sooner or later this board will find an example on the daily chart that we can all watch unfold together. I have a suspicion that there may be a bullish example developing in the S&P....

[bubba 10]

sure thing ws - it'll be just a bit tho, i'm @ work.

 

[Tasuki 10]

I find that a Wolfe Wave failure, meaning failure to reach anywhere close to the 1-4 line after point 5 had been established, sets up some of the best bull/bear flag formations.

 

OAC, I don't see that right away. Please give us an example or two. Thanks!

[bubba 10]

ok - here it is, i saw this on several timeframes

[Sparrow 10]

Here's one more example

[bubba 10]

I find that a Wolfe Wave failure, meaning failure to reach anywhere close to the 1-4 line after point 5 had been established, sets up some of the best bull/bear flag formations.

 

ok - this will display my 'noobness', sorry..

a wolfewave is also a bull/bear flag - correct?

so, I'm wondering if OAC is referring to a WW that has pivoted from

point 4, and before hitting point 5, turns - and breaches the 2-4 trendline.

hence, breaking out of the 'flag'. wouldn't this be a breakout of the bull/bear flag and a tradable pattern?

[thrunner 10]

Bull or Bear Ww for Indecision '08?

[bubba 10]

i had been tracking similar - but slightly different patterns forming.

[waveslider 10]

Sparrow, yours had another suspect #2 pt, but it worked! Goes to show that either you can find examples of anything, or that the #2 point rule isn't so important.!!!

 

Bubba- I have been seeing things your way, particularly your blue lines on the second pattern, though I used the low three days after your first point.

It's pretty early for this pattern though.

 

Here's my view of ES and RUT.X

 

The ES parallel channel (Daily Chart):

 

Initiates at the 50% mark of the previous trend, it has already proven itself once, now we are near confirmation. I like how it failed on both the top and bottom of the channel to break. As Gann said - as above, so below.

 

$Rut.x 60 minute chart:

 

Wide ascending parallel channel. Notice the breakaway gap occurs at 50% level. A lower open tomorrow may confirm this channel.

Today's price action is divergent with TRIX indicator.

 

Personally, I'm short.

[waveslider 10]

It would be nice, thrunner, if the indicator you use wouldn't draw all those light brown lines through price. Yours is a nice illustration of the larger parallel channel in $indu