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Structured Wolfe Wave setting up in DJIA


The Estimated Price at Arrival line implies a significant correction is coming over the next few weeks. If it lasts as long as the previous correction, it likely will drop to the 9000 level or lower.

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Structured Wolfe Wave setting up in DJIA.
As I said before, my wolfees are some what mutants LOL

Here is a 10m chart from this morning's play. It started by the price hitting R1 BMO at 08:30 with the stochastic in overbought territory as the price hits R1, little after that, the price made what appears to be a 1 and 2 of a bearish Elliot W. plus I had a bullish mutant wolfee finishing the #6 point. That #6 was a #5 for my mutant bearish wolfee as seeing in the chart. Since I never know what the market is going to do, all I can do is take the trade "as I see it", use R/R to place my stop and let the market show me the rest. May be it works, may be it does not, but I will never know unless I try..............I hate the " I could, I should, I would"............

The chart below is self explanatory..............2 more charts will follow
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1 es 10m 102810 wolfeewave trade
Here is the second chart, so far so good.
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2 es 10m 102810 wolfeewave trade
Here is the conclusion..........
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3 es 10m 102810 wolfeewave trade
Impressive !
Again that is not an 'official' WW because the 1-3 and 2-4 lines do not converge; however, it doesn't really matter if you can trade it effectively.

Notice how the 1-3 line his the 4-5 swing near its mid point and if you draw the 2-4 line, it hits the 5-6 swing near its midpoint.

This is not an uncommon occurrence. Trendlines tend to hit price swings at their endpoint or midpoint.
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Wolfe Wave in HOG 10 min 11/1/10


Here is a WW on a 10 minute chart in HOG (Harley-Davidson).

It has not reached the target line (yet) but Bill Wolfe warns that the 4 Point is Support/Resistance and can reverse a price swing. Probably a good place to at least take partial profits.
Bill. Nice WW. Thanks for the chart and comments.

I was looking at today's ES action. Do you see the WW in the 1 minute chart?
Originally posted by BHReach

Here is a WW on a 10 minute chart in HOG (Harley-Davidson).

It has not reached the target line (yet) but Bill Wolfe warns that the 4 Point is Support/Resistance and can reverse a price swing. Probably a good place to at least take partial profits.
I was looking at today's ES action. Do you see the WW in the 1 minute chart?


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ES 1600 Tick Chart for 11/1/10


I found one sizable WW but it is easier to see and more symmetrical on a 1600 tick chart than a 1 minute chart.

There were a few very small ones not worth trading.
Anyone trade this morning's WW on 1min chart? (I also had minor price action support in 86 area)

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es 1min ww 11210
I have the WW but starts from the overnight. # 1, 08:30 @ 1191.25 H, # 4, 09:44 @ 1188.25. I think it is making a # 2 of a bearish EW If so then I will be looking at 1176 as the objective. Will see, it needs to finish #2 EW wave first. Will see, In due time will show us the way.

Bearish EW will be voided if price moves above today's high......
If this is a #2 Bearish EW, it should start right about here. ES now trading at 1191.00 @ 13:22> If it is not then it should have void the EW. by 14:11
14:11 is a small time cycle, with 14:55 15:18, 15:48 and 16:03. I look for small highs and lows at support resistance on this times. Will see.
Originally posted by i1hunter

I have the WW but starts from the overnight. # 1, 08:30 @ 1191.25 H, # 4, 09:44 @ 1188.25. I think it is making a # 2 of a bearish EW If so then I will be looking at 1176 as the objective. Will see, it needs to finish #2 EW wave first. Will see, In due time will show us the way.

Bearish EW will be voided if price moves above today's high......