Modify Wolfe wave - page 5
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sorry a bullish wedge needs to be pointing down on top of that you drew a line between 1-5 and not 1-3
Thanks for replying Clam. According to the Wolfe website information, wave 5 could (mostly) go beyond wave 3 and therefore they give examples where they also drew the line from 1 - 5 where they missed the 3-wave marginally as per my illustration.
Unlike some people I am not trying to teach you how to suck eggs, I merely want to learn "quickly" as I see an opportunity looming here larger than life and I thank you for opening my eyes to it.
How would you have drawn this example? Please tell me I am an able and willing scholar and not 15 years old either - full-time trading for 5 years and looking for more information to show me where trades are going well ahead of time.
Thanks for replying.
Clam61 is this correct WW
i guess id have to say the #ing is wrong because i would not have picked those #s. for point 1, there are many other lows after the one you chose and before the point 2 that you chose..it just seems like you chose point 1 to make the pattern work. i would have drawn it like this..but then not entered because 5 didnt fulfill
Thank you for showing me the correct way, Clam. I do appreciate your time. I will persevere until I get it right.
That would have been a nice trade, but it wasn't a Wolfe Wave. The 1 needs to fall between the 3 and 4. Either 3 < 1 1 > 4.
Without more resources I'm not sure this is real. I've looked at a bunch of waves that follow the trading rules we have listed, and none of the ones I looked at hit the profit targets. I also looked at Wolfe's Waves on his website and sometimes he draws charts using the close data, and sometimes using highs or lows. I'm pretty sure I could draw 100 waves following the trading rules, and through random chance many would go near the profit target. I want more rule data before I proceed any further with WW.
If 1 3 5 lined up more often, and the time targets were accurate I would be stunned. The way it is now, I don't get it. No way in hell am I spending 3k to find out if it is real.Thanks Daknor appreciate your comments. Just friendly request that you and Clam "get onto the same page" and let us collectively persue this wonderfully opportunity.
clam61 is this ww
ok thank you
i will try again
Clam61
Clam, thank you for persevering and not being driven to dispair. If at all possbible, keep the examples coming. I am going to master this method with the help of great hearts, open minds and perseverance.
Best wishes.
Hey Clam, I see you are becoming quite an expert on wolf waves. Just wanted to run this picture by you, is this correct wolf wave pattern.
Don't want to be rude, but how is that not a wedge. Where is a mistake.
Looking at your examples i followed the basic rules. Can you explane.
Thank you Clam. Got it, will be looking for wedges.