Wolfe Waves Paterns

Hey BoyBrutus,
great one on the er.
Your charts doesnt show the 2-4 line.
I use it for placing a stop and as confirmation to the 1-4 line direction. crossing 2-4 with increased volume is the best according to what I gathered so far.

any pointers for stops and entries on your side?

 

It's a AB=CD -pullback. (and 3 drive without a downtrend before the 3 drive).

 

It's a broadening top or almost a 3 drive(three little indians). A combination of those two.

 

As I said before, simply retests of trend line breaks.

 

Is this a Wolfe wave...?

 

Yes.

 

Yes it is... and also a lazy W pattern and a stairstep pattern and a trendline break and a breakout pattern.... and many other things that don't cost $3000

 

This is the view of Price Action when I Enter The short trade

 

please do not site a wolfe wedge as an Ending Diagonal Wedge......an EDW is specific to Elliott.

A ww may consist of action that consititutes a resumption back to .......of the larger trend that the ww is interrupting...... whereas an ending diagonal wedge terminates that larger degree trend.....these are specific actions and carry significant weight for a trend follower......frankly, one the great failures of such pattering ideas is to draw the practitioner away from price ambition and get them to treat patterns in a linear management....... a trader can chase numerous hours on bogus signals .......

there is a trader on another site who has just been caught red-handed with "I merely want to discuss this with you" all the while sending a pm offering to impart the manual for a mere 750 bux......it's all in the accent.......

J

 

just because u needed a genius to grasp he was a spammer. only a fairy tale passionate could and has fallen for this crap.