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Wolfe Wave

SILVERMICRO MCX:SILVERMIC1! Time frame : All Levels to be followed on Closing basis only. Intraday Volatility may persist. Chart Pattern Identified : BEARISH WOLFE WAVE In its bearish version , the highs and lows are increasing and herald a downward reversal of an uptrend. 1) A significant maximum is formed, preferably an absolute maximum ( point 1 ) 2) The price falls and forms a minimum ( point 2 ) 3) The price rises and forms a subsequent maximum higher than point 1 ( point 3 ) 4 ) The price falls and forms a subsequent low higher than point 2 ( point 4 ). Trendlines constructed by joining points 1-3 and points 2-4 must converge. 5) Point 5 is the maximum following point 3 and must cross the trendline joining points 1-3. This means that a "false breakout" from the pattern must form. This point determines the completion of the pattern and the OPENING OF A BEAREST POSITION because according to the pattern, a new wave should form from this point and extend beyond the pattern. PRICE and TIME TARGET Following Wolfe's principle, we can set our PRICE TARGET at the point where the trendline extension passing through points 1-4 will intersect the price line . INTERMEDIATE TARGET is also set by placing it at the price level of point 4 , then we can also try to extend the final TARGET. A valuable indication of the Wolfe pattern is tempo. In fact, by extending the trendlines of the figure up to their intersection, a time target is identified, i.e. a hypothesis on the period of time necessary for the prices to meet the trendline that identifies the target price (ETA=Estimated Time Arrival ). If once you get close to the ETA point, the price hasn't reached the target, you should consider exiting the trade. STOP LOSS The stop loss should be positioned above the maximum of point 5, perhaps slightly higher. Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
MCX:SILVERMIC1!Short
by vkj123
1
ICICI BANK NSE:ICICIBANK Time frame : All Levels to be followed on Closing basis only. Makets at all time high so intraday Volatility may persist. Chart Pattern Identified : BEARISH WOLFE WAVE In its bearish version , the highs and lows are increasing and herald a downward reversal of an uptrend. 1) A significant maximum is formed, preferably an absolute maximum ( point 1 ) 2) The price falls and forms a minimum ( point 2 ) 3) The price rises and forms a subsequent maximum higher than point 1 ( point 3 ) 4 ) The price falls and forms a subsequent low higher than point 2 ( point 4 ). Trendlines constructed by joining points 1-3 and points 2-4 must converge. 5) Point 5 is the maximum following point 3 and must cross the trendline joining points 1-3. This means that a "false breakout" from the pattern must form. This point determines the completion of the pattern and the OPENING OF A BEAREST POSITION because according to the pattern, a new wave should form from this point and extend beyond the pattern. PRICE and TIME TARGET Following Wolfe's principle, we can set our PRICE TARGET at the point where the trendline extension passing through points 1-4 will intersect the price line . INTERMEDIATE TARGET is also set by placing it at the price level of point 4 , then we can also try to extend the final TARGET. A valuable indication of the Wolfe pattern is tempo. In fact, by extending the trendlines of the figure up to their intersection, a time target is identified, i.e. a hypothesis on the period of time necessary for the prices to meet the trendline that identifies the target price (ETA=Estimated Time Arrival ). If once you get close to the ETA point, the price hasn't reached the target, you should consider exiting the trade. STOP LOSS The stop loss should be positioned above the maximum of point 5, perhaps slightly higher.
NSE:ICICIBANKShort
by vkj123
2
INFOSYS NSE:INFY Chart Pattern Identified : BEARISH WOLFE WAVE In its bearish version , the highs and lows are increasing and herald a downward reversal of an uptrend. 1) A significant maximum is formed, preferably an absolute maximum ( point 1 ) 2) The price falls and forms a minimum ( point 2 ) 3) The price rises and forms a subsequent maximum higher than point 1 ( point 3 ) 4 ) The price falls and forms a subsequent low higher than point 2 ( point 4 ). Trendlines constructed by joining points 1-3 and points 2-4 must converge. 5) Point 5 is the maximum following point 3 and must cross the trendline joining points 1-3. This means that a "false breakout" from the pattern must form. This point determines the completion of the pattern and the OPENING OF A BEAREST POSITION because according to the pattern, a new wave should form from this point and extend beyond the pattern. PRICE and TIME TARGET Following Wolfe's principle, we can set our PRICE TARGET at the point where the trendline extension passing through points 1-4 will intersect the price line . INTERMEDIATE TARGET is also set by placing it at the price level of point 4 , then we can also try to extend the final TARGET. A valuable indication of the Wolfe pattern is tempo. In fact, by extending the trendlines of the figure up to their intersection, a time target is identified, i.e. a hypothesis on the period of time necessary for the prices to meet the trendline that identifies the target price (ETA=Estimated Time Arrival ). If once you get close to the ETA point, the price hasn't reached the target, you should consider exiting the trade. STOP LOSS The stop loss should be positioned above the maximum of point 5, perhaps slightly higher.
NSE:INFYShort
by vkj123
5
Banknifty - Cypher PRZ at Wolfewave Target Banknifty had wolfewave and now price near to its target , interesting thing is wolfewave target and cypher prz are at same level. Current supply is tested thrice (including current attempt to break) Looks like it will trap bulls by giving breakout ... Upside a significant supply with left shoulder is waiting to pull price down. Previous quasimodo failed to break low hence we can say strong low has formed. and also two flag limits below (one with FTR) shows strong demand and which is hard to break . *Cypher might turn into shark so next potential reversal zone will be at 886
NSE:BANKNIFTYShort
by Indyan