Hello Traders,
There are a few things I want to pay attention to in this Wolfe Structure.
1. The first is the ab=cd pattern. This is something that can be found in almost every Wolfe Wave and can help determine when price is done moving in any particular direction. The main AB=CD I want to focus on is the one with capital blue letters. This AB=CD pattern can help us find the entry level for the Wolfe Wave. Mr. Wolfe himself mentions that the Wolfe's 'sweet zone' for entry is between point 5 and what 4xForecaster has defined as 5'(5 prime). This AB=CD pattern helps us a little further in that search for the 'sweet spot'.
2.The second is the "Geo" that is best described by 4xForecaster. The 'Geo' helps us define high probability levels that price will reach once the Wolfe Wave is complete. Often times, 5' is where price will reverse giving us Geo's Off-Set Rule at point 4. If 5"(5 double prime) is hit, which is simply the 2-4 cloned and on point 1, price will make a limited retracement back to point 3. If price remains within the 'sweet zone' then we look at the 1-4 line in grey as a target.
3. If a Wolfe Wave forms in a smaller time frame in this case we'll pay attention to the hourly time frame, point in the opposite direction. We will consider nullifying the larger structure and pay attention to the smaller Wolfe that points in the opposite direction. You can see this in the related link for CADJPY.
If you find my idea's and descriptions useful please let me know by liking and subscribing.
Thank you for your support.
Best,
Chartistry
There are a few things I want to pay attention to in this Wolfe Structure.
1. The first is the ab=cd pattern. This is something that can be found in almost every Wolfe Wave and can help determine when price is done moving in any particular direction. The main AB=CD I want to focus on is the one with capital blue letters. This AB=CD pattern can help us find the entry level for the Wolfe Wave. Mr. Wolfe himself mentions that the Wolfe's 'sweet zone' for entry is between point 5 and what 4xForecaster has defined as 5'(5 prime). This AB=CD pattern helps us a little further in that search for the 'sweet spot'.
2.The second is the "Geo" that is best described by 4xForecaster. The 'Geo' helps us define high probability levels that price will reach once the Wolfe Wave is complete. Often times, 5' is where price will reverse giving us Geo's Off-Set Rule at point 4. If 5"(5 double prime) is hit, which is simply the 2-4 cloned and on point 1, price will make a limited retracement back to point 3. If price remains within the 'sweet zone' then we look at the 1-4 line in grey as a target.
3. If a Wolfe Wave forms in a smaller time frame in this case we'll pay attention to the hourly time frame, point in the opposite direction. We will consider nullifying the larger structure and pay attention to the smaller Wolfe that points in the opposite direction. You can see this in the related link for CADJPY.
If you find my idea's and descriptions useful please let me know by liking and subscribing.
Thank you for your support.
Best,
Chartistry
