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Nice to see you're on board bubba, Taz and I were discussing the same pattern in ES, looks to be the same points we're using.

This has moved about 40 pts since yesterday, good trade so far... looks to gap down tomorrow...

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I'm going to agree with waveslider here. Point 1 is the least important point of the wolfe wave. What I personally do is to look for a clear violation of support or resistance, and give that pivot a tentative point 2. Then I look to see if there are clear pivots for points 3 and 4. If there's a point 5 already, I'll add that to the list. Then, finally, I'll search for a point 1, which (at least the way I do it) can be any major or minor pivot prior to wave 2 that looks approximately right.

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dang - rebooted that old machine, and there it was.. that gartley indicator is notorious for plotting at times, then not on another..

 

just kinda partial to those patterns where both overlap like that. o well - i was working all day anyways.

NQ3.png.eece08c390f1b5451d8586f4f37a83a9.png

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hmm

 

well, i would say that simply seeing both in the same pattern adds to the strength of the pattern. of course, i've no statistical log to support my logic. I've not seen that many actually.. maybe they occur frequently..?

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Guest Tresor

Guys,

 

As far as trading WolfeWave goes, what is your ''good trade : bad trade ratio'' of WolfeWave trades? - 60 : 40, 70 : 30, ... : ... ?

 

Regards

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Guys,

 

As far as trading WolfeWave goes, what is your ''good trade : bad trade ratio'' of WolfeWave trades? - 60 : 40, 70 : 30, ... : ... ?

 

Regards

 

What is your definition of a bad trade and a good trade? If you follow your trading plan and rules, there is no such thing as a bad trade. If you mean Profitable:Unprofitable Trade ratio, you know that this ratio is pretty useless by itself without knowing what the risk:reward ratio is as well? Frequency of being right is far less important than expectancy.

Edited by sevensa
typo

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Guest Tresor
What is your definition of a bad trade and a good trade? If you follow your trading plan and rules, there is no such thing as a bad trade. If you mean Profitable:Unprofitable Trade ratio, you know that this ratio is pretty useless by itself without knowing what the risk:reward ratio is as well? Frequency of being right is far less important than expectancy.

 

Hi,

 

I will leave risk / reward for later. Can you please estmate profitable vs losing trades?

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Guest Tresor

Thanks Waveslider.

 

Anyone, any statistics on their WolfeWave trades?

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I've been watching that too. The higher time frames have an andrew's target a bit lower so it looks like it would take out today's lows.

I was thinking this sort of thing might happen as they started rallying it this p.m.

Look at how the 1-4 line is touched 2x on both sides of the pattern. You can see it on bubba's chart, but even better on the 1 or 2 min.

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here's another time-frame.. maybe what WS referred to? i dunno.. but seems like a possibility.

another.png.d869c0ee03ce12bfd06a1ba628323dd9.png

Edited by bubba
eek.. thats NQ :) oh well, worth watching, my apologies

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there we go..

hope that helps. the gartley would have worked.. but, i would consider it triggered and completed. should have removed it i guess, for clarity.

 

Thanks, bubba. Turns out I did have my numbering wrong. I was going to start the WW from the pivots of the gartley. Yours looks much cleaner.

 

Geez, we haven't watched a live WW in a while, folks. This'll be interesting to see how it plays out.

 

Taz

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That 2nd chart looks more dangerous because at that pt the market is starting to trend. Point #2 should be a major low.

 

We're looking for a quick move back into the range on this one -else a trend could develop. The pitchfork I was talking about is on the half hour chart or higher.

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