In this thread I will be posting the Equity stocks with potential WW patterns.......................for commodities and indices , one can refer to my other thread given below...............Thank u
Explanation of wolf wave - Bullish (from book Street Smart by Linda Raschke):
1. Number 2 wave is a top.
2. Number 3 wave is the bottom of a first decline.
3. Number 1 wave is the bottom prior to wave 2 . Point 3 must be lower than point 1.
4. Number 4 wave is the top of wave 3. The wave 4 point should be higher than the wave 1 bottom.
5. A trend line is drawn from point 1 to point 3. The extension of this line projects to the anticipated reversal point which we will call wave 5.
this is the entry point for a ride to the epa line (1 to 4).
6. The Estimated Price at Arrival (EPA) is the trend line drawn from points 1 to 4. This projects the anticipated price objective. Our initial stop is placed just beneath the newly formed reversal at point 5. It can then be quickly moved to breakeven.
IMPORTANT POINT: You cannot begin looking for the Wolfe Wave until points
1, 2, 3, and 4 have been formed. Keep in mind that point 3 must be lower than point 1 for a buy setup. It must be higher than point 1 for a sell setup. Also, the wave point 4 will be higher than point 1 for a buy setup and lower than 1 for a sell setup.
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One is in the Elite Section, unavailable for viewing by most members. Is it possible to request @Big Mike to move a thread in or out of a "section" after it has been started? Not sure I've seen (or noticed) that done before, but I can see the value in it, @kitesfs
The following user says Thank You to Cashish for this post:
I am planning to keep Stocks and Commodities separate as this section is more over of stocks..........and I will be posting only WW in this thread and just stocks and NO commodities or indices.......just to make it simple....while in the other thread I will be focusing on BALANCED EQUILIBRIUM TRADING which includes other patterns along with WW....