Not implying anything here (more of an academic post), but just presenting an hourly chart of NF below, of what looks like a Bearish Wolfe Wave happening! Now for this to take effect, the same rules apply as mentioned here, so we wait for THE CONFIRMATION!
If you are new to Wolfe Wave I suggest take your some time and read!
Once again I repeat patterns are not lines in stone, they do fail and you DO always have a STOP in place!
5 comments:
Sir any forum from where i can learn about this pattern.
link you given is not working.
Hi Manoj
Pattern Conditions:
1) reversal from here
2) failure to hold no.3 which happens to be time tested previous top 4731 difficult nut to crack. resistance becomes support by kiss.
3)whats the negation point of Wolfe?
Trader Hi
There is a link I gave in the post...go there plenty of info in that site!
Cheers
Naresh Hi
1. Yes to be in play reversal is needed form here!
2. Yes KISS suggests old resistances become supports that's why it needs to break those supports to generate further weakness!
3. Negation happens if we fail to break and reverse and reclaim the highs of peak 5!
Pretty much the same way as its with other patterns!
Cheers
3. Negation happens if we fail to break and reverse and reclaim the highs of peak 5!
Hi Manoj
peak 5 Tiger Hill crossed no bear,wolfe dare comes in bull way whats tgts upon negation 2-5,4-5 added on 5?
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