ABOUT THIS BLOG

This blog is about my journey in learning WolfeWave ,one of trading strategy in forex.

all contains about my open position in this site is not a trading signal , it is just a reminder and a trading journal for myself.

This is very common explanation about Wolfe wave

Bullish Wave

Rules for Bullish Wolfe Wave Structure

Please not the odd sequence in counting, as you will see, it is necessary for the
inductive analysis.
By starting with a top we are assured of beginning our count on a new wave.
The 2 point is a top.
The 3 point is the bottom of the first decline.
The 1 point is the bottom prior to point 2 (top), that 3 has surpassed.
The 4 point is the top of the rally after point 3.
The 5 point is the bottom after point 4 and is likely to exceed the extended trend
line of 1 to 3. This is the entry point for a ride to the EPA line (1 to 4).
Estimated Price at Arrival (EPA) is trend line of 1 to 4 at apex of extended trend
line of 1 to 3 and extended trend line of 2 to 4.
Estimated Time of Arrival (ETA) is apex of extended trend line of 1 to 3 and 2 to
4.
Trend line of 1 to 3 and trend line of 2 to 4 must converge.

Bearish Wave

Rules for Bearish Wolfe Wave Structure

Pleas not the odd sequence in counting, as you will see, it is necessary for the
inductive analysis.
By starting with a bottom we are assured of beginning our count on a new wave.
The 2 point is a bottom.
The 3 point is the top of the first rally.
The 1 point is the top prior to point 2 (bottom), that 3 has surpassed.
The 4 point is the bottom of the decline after point 3.
The 5 point is the top after the 4 point and is likely to exceed the extended trend
line of 1 to 3. This is the entry point for a ride to the EPA line (1 to 4).
Estimated Price at Arrival (EPA) is trend line of 1 to 4 at apex of extended trend
line of 1 to 3 and extended trend line of 2 to 4.
Estimated Time of Arrival (ETA) is apex of extended trend line of 1 to 3 and 2 to
4.