ES Journal Archive (2006 - 2008)

[gwac]

The only reason to be long is that everyone thinks this is going down. Every update and every video I have read to night.

Quote from tortoise:

well, exactly. i just don't see the long here.

 

[BigBubba]

the pattern is a called a wolfe wave. this 1 looks like a classic definition of a wolfe wave, for whatever thats worth..

actually, i'm partial to em .. here's where i shoulda added FWIW



there not too far removed from some of the divergence/wedge plays.. but do have their own set of criteria

 

[gwac]

Bubba check this one out broke on the 5th came back and broke to the other side. Is it not possible that could happen to ES. If I am counting right the break is on the fifth for es.


http://www.wolfewave.com/A_chart_example_on_a_stock.htm
[

 

[jagmot]

Quote from gwac:

The only reason to be long is that everyone thinks this is going down. Every update and every video I have read to night.

Agreed, although still a bear in the medium term.

First time ive seen this, IB software down? Been with IB 7+ years.. Anyone else?

In the backup account...

Long 1388.75 small position

Target 1398
Stop 1384.50

 

[BigBubba]

Quote from gwac:

Bubba check this one out broke on the 5th came back and broke to the other side. Is it not possible that could happen to ES. If I am counting right the break is on the fifth for es.

well, yes - that's the signal .. at wave point 5

*IB fine here

 

[gwac]

It seems a wolf wave is still a wolfe wave if the 5th point break fails and come back in and breaks to the other side. Am I wrong here?

Quote from BigBubba:

well, yes - that's the signal .. at wave point 5

 

[BigBubba]

if you are referring to the pop outside the wedge - that's signature of a WW. in fact, you would wait for it.

 

[gwac]

Is that not what could happen to es. Which would send it higher?

Thanks I find this very interesting. While I wait for IB to come back and I get more pissed as the night goes on.

Quote from BigBubba:

if you are referring to the pop outside the wedge - that's signature of a WW. in fact, you would wait for it.

 

[BigBubba]

there's a thread here discussing WWs - they aren't new ..
there is supposed to be a 'psychological factor' associated the pattern, but pfft - someone else could explain that better. i have seen it work well

http://www.traderslaboratory.com/forums/f2/wolfe-2229.html

 

[tortoise]

Quote from BigBubba:

if you are referring to the pop outside the wedge - that's signature of a WW. in fact, you would wait for it.

I'm a bit vague on wolfe waves, so i've taken the liberty of annotating your screenshot. is this correct?

also, you're saying the break of the 1-3 trendline does not invalidate the pattern?