Not an analysis, though I used recent price changes in CAC40 to illustrate the idea behind Wolfe Wave. Things are never ideal so it remains a theoretical tool but it can help to find out target levels in case of breakout scenarios from converging triangles. The presented example is a bullish scenario but you can do the same for a bearish scenario if the triangle...
Some basic "guidelines" about Elliott Waves.
I hope that somehow help to understand how the market really moves.
This is an "update" to my previous published educational chart about Elliott Waves - link below
Safe trades;
Hello, i want to share with you my prefered areas where i look for setups using EW.
This is a simplified chart of an impulse followed by a correction. Sometimes its as simple as that, sometimes is very complex.
Since i started using EW i found very profitable setups real-time. Im showing an example for each setup below.
Our work is to find a clear wave...
iMPULSE LEG:
Wave 2 = 61.8% of wave 1 (Prices usually do not retrace more than 61.8% of the wave 1 gains;
Can never exceed the start of wave 1);
wave 3 = 161% ext of wave 1 (can never be the shortest impulse wave);
wave 4 = 38.2% of wave 3 (can never overlap wave 1 );
wave 5 = wave 1
CORRECTiON:
Wave A = usually around the 50% or 61.8% of wave...
I decided to expand on my gold analysis with the help of rgmov and neowave concepts.
I think that the monthly downtrend is still valid, and that we will visit the projected target at 913.82 in time, which might validate the wave count on chart.
I entered a pending order and got filled for a short at 1129.15, and SL at 1140.56, and also entered a sell stop at...
Friends,
A with lessons and demonstrations offered over the past 24 hours (See $USDTRY, $NZDJPY, ... etc), here is another pair worth looking into, not so much from the perspective of a pending geometric completion, but as an example of developing a contingency plan.
Here, we are contemplating a short (green scare representing a conservative, prudent...
Following is a brief step-wise approach to the refinement I have applied to the Mr. Bill Wolfe's Wolfe Wave (www.WolfeWave.com) pattern.
Although in his introductory site (www.WolfeWave.com), Mr. Wolfe insists that no internal geometries needs to supplement this pattern, my encounter with this pattern came originally from a different angle, having discovered my...
It's not a trading idea, more of a a history lesson :-)
Today while browsing the web I stumbled upon a well known story how Soros and his friends heavily shorted the Pound in 1992 and forced the government into surrender, pocketing more than a billion USD of gains. For the British Pound, this can largely be viewed as a black swan event - however, if we look at...
Friends,
Recently, we entertained a lot of conversation on market geometries, more specifically in discreet geometries that easily come to the eyes, and others a bit more buried in the occults. Of late, we spent some time reviewing Wolfe Waves patterns, which offer the pattern trader that "next level" of market geometry complexity, given a set of rules that are...
Wolfe Waves Pattern: Aftermath ... Lesson | $AUD $NZD #RBA #RBNZ #forex
Friends,
Last March 06th, I presented a potential short signal based on an advanced geometric pattern called the Wolfes Waves pattern. Now that its 1-4 Line was hit and price nearly hit our defined TG-1 = 1.05260 (missed by a mere 4.3 pips, unless you generously front your take-profit...
