Silver looks to have formed bullish Wolfe Pattern on daily chart. Breakout has already taken place. Silver should touch $15.65 by ETA of 13th May 2019 (converging point of wedge). Wave 1 took 11 days , wave 2 took 11 days, wave 3 is much shorter and took 4 days (aberration), Wave 4 took 10 days. If we go for symmetry then we won't find as Point 1 to 3 took 22 days...
Wolf Wave Trading Strategy Rules:
The Wolf Waves rules will help you to identify this symmetrical chart pattern. You can apply the same rules for the bullish and bearish wolf waves. Without further ado, these are the wolf wave’s characteristics:
Wave 3 and Wave 4 must be contained within the channel created by Wave 1 and Wave 2.
Wave 1 and 2 equals Waves 3 and...
Price has formed a nice bearish wolfe wave on TCS daily chart. We can see a strong price rejection at 5 with some good volume. One can enter short at current level. 1780 would be our first target.
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Bullish wolfe wave pattern is formed in IBREALEST .
As a investment strategy stock can be bought at current level for a target level around 250 in Medium Time frame.
Price action higher high and higher low is also generating positive confirmation for the script.
Long position, at-least for 20 days . It's the perfect test of patience by hodling your profits. Good luck.
check graph for more info.
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Disclaimer: My views are not written on stone and can be sometimes wrong, since no one is 100% sure in stock market. Consult your financial advisor before...
L&t Finance has formed nice INCORRECT wolf wave. I shout incorrect cause there are people who argue that its incorrect. Again what worsk what works. Long here Stoploss close below 177 target atleast 192. One can wait for the break of the resistance trend line.
Rules & Structure Of Wolfe Wave Pattern
To Identify Wolf Wave Patterns,
Waves 3-4 must stay within the channel created by 1-2
Wave 1-2 equals waves 3-4 (shows symmetry)
Wave 4 is within the channel created by waves 1-2
Wave 5 exceeds trendline created by waves 1 and 3
There Should be regular time between all waves
How To Trade.
Entry point When Price Close...