Discussion in 'Trading' started by Harry, Nov 15, 2001.

  1. Harry


    have taken (just a quick) look at the Wolfe-Page. I have to admit that I would have to go more deeply in this setup - but on my first look I'm a bit confused: It seems to buy stocks that would be considered in a downtrend for this timeframe. As we see on the fig "Bullish Wave" the stock makes lower highs (at least (4))and lower lows ((1), (3), (5)). I do not want to question this setup if it works, but I really don't understand the rationale.

  2. looks like a declining wedge or a pennant to me..

  3. Interesting setup I had a look at the website too. I had seen examples on LBR 's site before, what I would have liked to see though is examples of failure . It's quite easy to show examples that look great. It does look like a falling wedge or descending triangle in the case of the bullish version but what's great about this technique is that you have a time and price target. I am skeptical about using it on 1 min.chart as shown( not enough time) on larger time frames you really need to trust the pattern. Anybody experienced with it or backtested it?