Wednesday, June 06, 2007
Wolfe wave
Friend wanted example
So i give u 2 examples in one picture
Google for details.
Currently wolfe wave target is 4100 or so
I have never tested wolfe wave in isolation, no idea how accurate or useful it is.
i usually use wolfe wave whipsaw along with an elliot wave count.
For every one wolfe wave that works i am sure i can find 2-3 that don't
The key is that the risk is insanely tiny .
its usually <=1x atr
target is usually 2-4x atr
You could also try filtering by reward/risk to decide which ones to take
I'm going to do a very thorough test of all wave patterns on all timeframes
once i arrive in delhi.
Goal is to run something that can scan entire nse for any pattern on any timeframe of any size in real time and provide a reward/risk/probability estimate..
If there is any such thing as a useful pattern in the stock market for trading.
I'll find it :) within seconds of the pattern forming.
imagine entering every 1-2-3-4-5/a/b/c (zigzag/flat with reward=10 times risk :)
even with 20% accuracy thats a money making system
For now i continue to filter my technical patterns with an underlying fundamental view.
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