Wolfe

[Sparrow]

Hi guys,

Just got this pattern on cable, hope it's not all wrong.
Really nice stuff, thanks a lot.

[waveslider]

That one in ES today is one of the most classic ones I've seen. The one in the pound was nice too..
but that one in ES was awesome. I especially enjoyed the quick movement from point 4 to 5, and how pt. #2 was just so obvious.
I took a piece out of it, but can't say I would have held on throughout the whole move if I was trading just the pattern.

[Sparrow]

Hi, I wonder if this one qualifies too as a valid pattern, it's less than perfect and long drawn out. Thanks

[waveslider]

Sparrow, it will help you if you start labeling your charts with the numbers of the points. The last one you posted was not a valid pattern as you represented it, or it might have been if we could have seen what you saw. I didn't see it.
I have gotten lazy with marking the pts since it was just me and Tasuki here for a while.

[Sparrow]

Thanks for your comments waveslider, I've practiced a bit and find it more easy to spot the pattern already. I think the one starting at 14:29 on the same chart was valid though.

Looking for expanding wedges/triangles helps a lot.

Reminds me a bit of NQoos wedge setup but it is not the same.

[thrunner]

	Quote:	waveslider
	just me and Tasuki here for a while.

Here is a chart to join you companies of Ww followers and lurkers . I wonder if this is a valid setup and would a Ww taken such a trade:

[waveslider]

Glad to have you here thrunner, and sparrow ideally we can put these up real time for evaluation some day.

It is critical for the #5 pt to break or at least touch the 1-3 line. Another thing is that this pattern works best in congestion. The #5 pt is usually not a significant high/low.

You are correct in identifying the geometry in this market, but it's not a proper wolfe wave.

This brings up an important point. Pattern identification can be a little fuzzy, but certain rules have to exist. The reason I point this out is that it is too easy to "see what you want to see". Rules are there to increase objectivity as much as possible. That being said, no 2 patterns are alike - - so there will always be different interpretations.

Keep 'em coming and we can pick them apart together.

[waveslider]

Here's just a potential one (getting bored with this market)... in YM.D on a 466 tick chart just to illustrate how to keep an eye out for these.

Firstly, the #2 point attempted a breakout, failed.

Point #3 takes out point #1.

Point #4 rises and attracts short sellers.

Point #5 should shake out longs and give short sellers conviction. If this 4-5 move fails, the pattern dictates a move back to the 1-4 line.

This is really early, point 4 hasn't even formed. You see this kind of thing all the time and the pattern doesn't play out properly.

[waveslider]

Forgot to insert the chart....

[Sparrow]

How about this one, it's not exactly out of the book.

Thanks for all your help waveslider.