csn

Look at the chart of USDJPY I got.

It's almost unbelievable! Looks like the USD had just shot up for a while to hit the bullish WW target. In order to hit the target it overcame the strong resistance of 200 EMA, then crashed big time. I must say one of those picture parfect setups you get while trading Wolfe Waves.

Now the bad part. I have seen this bullish WW setting up and marked it up on my chart for an entry. Later I just forgot about the setup and missed the whole move. Damn!

But yesterday I got another one on GBPJPY.

This one made up for the pain of the previous one. Once the take profit level of 155.65 (entry 154.38)had been hit, I re-entered at the market on 156.25 and let it run. Trade was open overnight with a profit of US$100.75 on 0.05 lots, ie 5 micro lots.

Just one from my experience.. once a bullish or bearish Wolfe Wave target has been hit, you should reenter and let it run with a tight stop loss (30 pips). Many times the bullish or bearish Wolfe Wave target hit signifies the start of a long and profitable swing on your favor if you can hang on. If not, then your tight stop loss will protect you in that case.

Wishing you luck.

trendexpert

I can not download the files
Please check it again

csn

Since this thread was started, I have not posted about bearish wolfe waves. It's true that they occur less frequently than bullish wolfe waves but thats not an excuse for not posting them. Maybe I was plain lazy to spot them in my charts.

Quite a number of potential bearish waves resulted in failed waves. At last got two of them to share here..

(Double-click on the pic to zoom in)

In this H4 EURGBP chart - setup on last Friday, I went short at the top. Price have come down quite close to the target level and I have bailed out to protect my profits. Now the price have retraced to retest the 200 EMA and I have shorted again. My plan is to hold on untill the price reaches the target line. A good, clean bearish wolfe wave setup.

Now watch this..

(Double-click on the pic to zoom in)

A bearish wolfe wave setup on weekly spot silver (XAGUSD) chart. I am following this baby for quite sometime now and the story is unfolding quite nicely.

Entered at 14.80 with 1 mini-lot where 1 tic movement amounts to 5 US$. The price have touched the 200 EMA and I am expecting some consolidation, range-bound trading or maybe a little rally as this is a solid support level. Once again, I am gonna hang on until the price touches the target line.

But wont be hesitating to leave this baby if our date turns sour, if you know what I mean..

Cheers
csn

[ Last edited by csn at 12-7-2009 02:42 ]

beautifultom

Thank you again for all your posting updates.
Cheers

goodman

thanks

lostserial

Oops!

lostserial

lostserial

lostserial

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lostserial