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Releasing New Harmonic Pattern


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Releasing New Harmonic Pattern

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  #1 (permalink)
 WolfieWolf 
Charlottetown, Prince Edward Island
 
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Dear Traders,

I would like to take this opportunity to share with the community a new Harmonic Pattern that I discovered. I would also like this post to serve as an opportunity for anyone who may have already identified and published a similar pattern to come forward to refute my claim and take their rightful ownership if that should be the case.

As this pattern shares characteristics with the Butterfly and the DeepCrab I first noticed it in situations where price, in forming the CD leg, would violate the potential "D" level and then the top or bottom of the PRZ of these other two patterns without pulling back. Often, before reaching it's own "D" price will re-test the potential Butterfly or DeepCrab "D" level from the wrong side before continuing into it's own PRZ.

This is not to say that this is not a discrete pattern in itself as it can show up without the presence of a potential Butterfly or DeepCrab however it often does appear along with the other potential patterns. The violation of "D" and the PRZ of the other patterns is a sure sign that this pattern, which I have selfishly named the "Wolf Tail", is forming.

I've attached Bullish and Bearish prototypes of the WolfTail along with a couple of screenshots of real examples of this pattern in Crude Oil.

I hope you enjoy this Pattern as I feel it has a lot of potential. I would be very interested in any and all feedback on this.

Kind Regards

Wolfie Wolf

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 kbaker9247 
Moline IL USA
 
 
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WolfieWolf View Post
Dear Traders,

I would like to take this opportunity to share with the community a new Harmonic Pattern that I discovered. I would also like this post to serve as an opportunity for anyone who may have already identified and published a similar pattern to come forward to refute my claim and take their rightful ownership if that should be the case.

As this pattern shares characteristics with the Butterfly and the DeepCrab I first noticed it in situations where price, in forming the CD leg, would violate the potential "D" level and then the top or bottom of the PRZ of these other two patterns without pulling back. Often, before reaching it's own "D" price will re-test the potential Butterfly or DeepCrab "D" level from the wrong side before continuing into it's own PRZ.

This is not to say that this is not a discrete pattern in itself as it can show up without the presence of a potential Butterfly or DeepCrab however it often does appear along with the other potential patterns. The violation of "D" and the PRZ of the other patterns is a sure sign that this pattern, which I have selfishly named the "Wolf Tail", is forming.

I've attached Bullish and Bearish prototypes of the WolfTail along with a couple of screenshots of real examples of this pattern in Crude Oil.

I hope you enjoy this Pattern as I feel it has a lot of potential. I would be very interested in any and all feedback on this.

Kind Regards

Wolfie Wolf

I've never heard of Harmonic Patterns. What is the probability of the trade being successful based on these patterns?

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  #4 (permalink)
 WolfieWolf 
Charlottetown, Prince Edward Island
 
Experience: Advanced
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Like everything else in trading it depends on a lot of factors. Good execution, risk and money management, and other types of analysis also come into play. But I can say that with everything in place Harmonics are excellent.

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 Zxeses 
San Francisco CA
 
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WolfieWolf View Post
Dear Traders,

I would like to take this opportunity to share with the community a new Harmonic Pattern that I discovered. I would also like this post to serve as an opportunity for anyone who may have already identified and published a similar pattern to come forward to refute my claim and take their rightful ownership if that should be the case.

As this pattern shares characteristics with the Butterfly and the DeepCrab I first noticed it in situations where price, in forming the CD leg, would violate the potential "D" level and then the top or bottom of the PRZ of these other two patterns without pulling back. Often, before reaching it's own "D" price will re-test the potential Butterfly or DeepCrab "D" level from the wrong side before continuing into it's own PRZ.

This is not to say that this is not a discrete pattern in itself as it can show up without the presence of a potential Butterfly or DeepCrab however it often does appear along with the other potential patterns. The violation of "D" and the PRZ of the other patterns is a sure sign that this pattern, which I have selfishly named the "Wolf Tail", is forming.

I've attached Bullish and Bearish prototypes of the WolfTail along with a couple of screenshots of real examples of this pattern in Crude Oil.

I hope you enjoy this Pattern as I feel it has a lot of potential. I would be very interested in any and all feedback on this.

Kind Regards

Wolfie Wolf

I believe the elliot wave theory calls this an "extended d wave", ill go read up on this and post more details. The pullback retrace of the d wave is also mentioned.

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  #6 (permalink)
 WolfieWolf 
Charlottetown, Prince Edward Island
 
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Zxeses View Post
I believe the elliot wave theory calls this an "extended d wave", ill go read up on this and post more details. The pullback retrace of the d wave is also mentioned.

Thanks ZXesses, this is exactly the kind of info I was hoping for... please post whatever you have..

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 futuretrader 
Como Italy
 
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What days are those charts? I'd like to look at them with my own approach.

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 Zxeses 
San Francisco CA
 
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WolfieWolf View Post
Thanks Zxeses, this is exactly the kind of info I was hoping for... please post whatever you have..

Sorry it took me so long to get back to you, was hammered at work this past week, I can't wait till I can be a full time trader!

So this is a good reference article on the Elliot Wave Principal (I call it a theory, but hey, I'm not the only one)
Elliott wave principle - Wikipedia, the free encyclopedia


Quoting 
A correct Elliott wave "count" must observe three rules:

Wave 2 never retraces more than 100% of wave 1.
Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle.

A common guideline observes that in a five-wave pattern, waves 2 and 4 will often take alternate forms; a sharp move in wave 2, for example, will suggest a mild move in wave 4. Corrective wave patterns unfold in forms known as zigzags, flats, or triangles. In turn these corrective patterns can come together to form more complex corrections.[3]Similarly, a triangular corrective pattern is formed usually in wave 4 (very rarely in wave 2) and is the indication of end of correction.

and I take great exception to the comments of Glenn Neely

Quoting 
"Elliott wave was an incredible discovery for its time. But, as technologies, governments, economies, and social systems have changed, the behavior of people has also. These changes have affected the wave patterns R.N. Elliott discovered. Consequently, strict application of orthodox Elliott wave concepts to current day markets skews forecasting accuracy. Markets have evolved, but Elliott has not."

I see the pattern repeated all over the markets today on a regular basis.

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  #9 (permalink)
 WolfieWolf 
Charlottetown, Prince Edward Island
 
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futuretrader View Post
What days are those charts? I'd like to look at them with my own approach.

Sorry for the slow response, it's been a busy week. I'm sorry I didn't record what does those were and now it will be difficult to go back and identify it. I'll find some new examples of the pattern and post them along with the dates so you can do your analysis.

/W

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 Keith Leesus 
New York
 
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Agree. If you could post the dates that will be great. Thanks

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 WolfieWolf 
Charlottetown, Prince Edward Island
 
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As requested here's a good example of the Wolf Tail as a failure pattern for the Butterfly. This is a chart of Crude Oil 09-14 for Thursday 31/07/2014

The first two patterns are interesting because they are Fractals of each other. Within the CD leg of the large Butterfly / WolfTail there is another smaller Butterfly / WolfTail. Both butterflies fail and continue to complete the respective WolfTails.

After the completion of the smaller WolfTail there is an almost perfectly symmetrical Three Drives Pattern. I say almost because it’s 6 ticks short of hitting the 1.272 on the third drive to the bottom. Nonetheless it rallies off the low, as expected, and as is typical for the completion of a WolfTail, we test the bottom of the previous failed Butterfly. This is poetry. The failed Shark is also interesting, and I have ideas for a Shark failure pattern that I'll publish once I've collected more evidence to support it.

I look forward to your thoughts / comments. Seriously thought, really tare this apart. I'm looking to integrate this pattern into my trading and hope that eventually others will do the same. It would be great if we could try to break it sooner than later.

Kind Regards

Wolfie

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