adamsasak

In my opinion this methodology is like elliot waves and xabcd/gartley so discretionary that QUANTS will not use it.

csn

Well, Yes and no.

I have tried to understand and Elliot Waves in the past and never quite got them. Gartleys are also good and have a very high success rate but I am not too much into them.

But this one is easy to understand and fits my style, I do not have the IQ needed to be a quant (I believe).

Regarding your opinion, have you used Wolfe Waves for your own trading? In that case, share your thoughts here.

csn

Quote:

Original posted by csn at 16-3-2009 14:03
Hello beautifultom,

Thank you for your kind words and best wishes.

Meanwhile the Wolfe Wave continuues to amaze me.

Got this nice setup on daily AUDUSD chart for long Wolfe Wave today morning ...

Well, that was it..

(Double-click on the pic to zoom in)

Entry :                   16.03.09
Price:                    0.65690

Projected target:   0.7274

Exit:                       14.04.09
Price:                     0.72752 (Exited just below the thick white line, 200EMA was at 0.7284)

One month, 706 pips on a single trade !!

Wolfe wave predicted a target of 0.7274 almost a month earlier. Predicted not only the direction of the market, but also the target by a razor-sharp precision. Amazing ..

Exit was according to the rules stated by Bill Wolfe so I did not gave back my profits to the market.

IMHO, Wolfe Waves do fail, but this was an ideal picture-perfect trade.

[ Last edited by csn at 14-4-2009 22:26 ]

beautifultom

Thank you csn for your feedback. These are very interesting results.
Perhaps you can also share with us any failures so that at least members can know what to expect.
Thank you again and Good Luck.

anesthetic

nice stuff

csn

Quote:

Original posted by beautifultom at 15-4-2009 04:43
Thank you csn for your feedback. These are very interesting results.
Perhaps you can also share with us any failures so that at least members can know what to expect.
Thank you again and Good Luck.  ...

As requested my beautifulom, posting a pic of a failed bullish Wolfe wave that I have got last week on USDCAD daily chart. Click on the pic to zoom in.

I went long at 1.2426, quite a late entry as I didn't spot the wave untill then.

This is a swing trade on a daily chart. I am stopped out for better as the price has failed to breach resistace at 1.2400 region and made almost 100% retracemant to the initial rally bar at the base trendline.

Not everything is lost although. The market may test the 200 EMA (Exponential Moving Average - thick white line) and then rally if it finds support. But that is only a possibility at this moment.

I will be watching it and keep my fingers crossed..

[ Last edited by csn at 26-4-2009 09:27 ]

beautifultom

Thank you for your feedback.

csn

I can't help but share this ! This is the first time I have traded precious metals (Silver) with Wolfe Waves and (fortunately ) my trade is a success. Yes, Wolfe Wave sucessfully works with precious metals too !!!

Click on the pic to zoom in. The proof is below..

A bullish Wolfe Waves setup on 4H XAGUSD (Silver Spot) chart yesterday. Entered at 12.40. Decent entry but almost stopped out after the price retraced and came dangerously close to my stop. I could not take the pain any more and thought I'd close the trade before getting stopped out. Somehow changed my mind and stopped trading for the day without closing the trade.

Today morning when I opened the chart again, BINGO. But maybe I could have stopped out too.

The bullish Wolfe Wave was bang on target and I am out at 13.10 for a gain of 70 tics. Nice gain, huh?

Now, Wolfe Waves works for:

1. Forex
2. Precious Metals

I can certify that..

beautifultom

Congratulations on your Successes!!
We are also happy that you are sharing your results with us.
Great job!

MrRF

Thanks CSN.

Great material!