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Old 12-13-2007, 08:20 PM
Intunes Intunes is offline
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Question Wolf waves in two timeframes

Im attaching two wolf waves pattern for USD-CHF, one has already occured the 30 mins one but in the 4hr theres another one, which i think it will be coming to reality by 14 dec, there are two wolf waves in the same pair but in different timeframes, maybe im doing something wrong just wanted to check it and show you all.

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File Type: gif 30mins-usd-chf-ww.gif (16.9 KB, 17 views)
File Type: gif 4hr-usd-chf-ww.gif (19.8 KB, 18 views)
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Old 12-23-2007, 01:38 PM
DaveB DaveB is offline
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Hi

I dont actively trade wave patterns (wolf,elliot,etc) so feel free to ignore this post
The problem I have with them is that it seems that they can often be very subjective, and its easy to "hallucinate" - I don't mean this in a derogatory way - just that with so many price movements you can always see 5 wave formations, so the challenge is to apply additional criteria to assess their legitimacy.

Looking at the 30M chart I don't see a pattern that I would describe as a wolf wave. I would expect to see more symmetry - in particular for the 3-4 wave in relation to the 1-2 wave (i.e. roughly parallel and of similar length).

Dave
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