Wolfe Waves are caused by forces of supply and demand that exist in all markets and all time frames. They were originally discovered by Brian and Bill Wolfe. They form patterns consisting of 5 waves where the first 4 define a wedge and the last extends beyond this wedge. This last wave is usually traded. Using the Wolfe wave principles, we can calculate its length by drawing a line between point 1 and point 4 on the wedge and extending this in the direction of the breakout of wave 5. It functions as the profit target line. The Wolfe Wave analysis technique can forecast an Estimated Price at Arrival (EPA) and an Estimated Time of Arrival (ETA).
The wave preceding the fifth wave, could exceed the extended trendline from waves 1 to 3, before making a large move in the opposite direction. This is the ideal entry point for a trade towards the profit target line. There are specific rules that define this naturally occurring trading pattern. As with any trading method, several variations exist. Trades based on this system usually have tight stops compared to the profit target, making for good reward / risk ratios.
NIFTY50 1 HOUR WOLFE WAVE CHART (STRONG SUPPORT AT 11548
STRONG SUPPORT AT 11548 IF CROSS SELL FROM THAT POINT FOR TARGET 11390
WITH TIGHT STOPLOSSS 11625
Wolfe Wave formed at the top area could offer a good short trade with reasonable Risk to Reward ratio. One can short the stock below 1090 and look for a targt of 980.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
NSE:YESBANK has generated Bullish wolfewave pattern on a daily chart.
Scripts can be accumulated in cash with keeping stop loss of 160 for a target of 300 in a medium term.
Study by: MoneyTreeTrading.com
DISCLAIMER: For Educational purpose only.
The stock started its Wolfe Wave from point 5. Target of the Wolfe Wave is the line connecting Point 1 and Point 4. Expecting 107 target in next few days.
Stock has formed bullish Wolfe wave that offers a good trade with small risk and if works and achieve the target it has potential of 4 times the risk being taken. Details are as under
Entry 53.6
SL 52.2
Target 57.6
RR 4
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Hello Traders,
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.
Good Luck!!!
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The stock has developed Bullish Wolfe Wave which could be traded. Although target price of the pattern is 91 but one can easily expect 84 and review the trade at that level. RSI divergence in oversold area and its value confirming the buy decision.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Wolfe Wave has been formed nicely so one can buy the stock at current level. Since the market is moving in small range I would keep the target moderate between 520 - 525.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
The stock has formed bullish Wolfe Wave therefore one can buy the stock for the pattern target of above 190. Due to higher Oil price crisis the stock may see volatile price movement if any decision is taken by the government.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
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