Wolfe Waves are not part of my regular repertoire of analytical tools. A few years ago I had done extensive work on them and had loads of saved charts. This one, for instance, on EURUSD weekly chart took about a year from start to finish. image ...

A new look at Wolf Waves

Hi profitkeeper, Please don't feel offended on things I pointed out which I felt were errors. The rules can be found here and at several other sites. I am sure you must have studied them thoroughly. Wolfe Waves are powerful setups. Keep up your good ...

A new look at Wolf Waves

I have learned to rely on my own analysis exclusively. And I will advice you to do the same. I believe that if a trader is not in a position to be certain of his own estimation of the market, using whatever system he has evolved or borrowed, he ...

What websites/blogs do you check for potential trade setups?

Per the rules, point 4 is the highest high or lowest low between points 3 and 5. Thus the target line drawn on your EURUSD chart is incorrect. Actually it is a failed Wolfe Wave as the target was never reached. image Though right after this one, ...

A new look at Wolf Waves

There was a good one on USDCAD H1 earlier last week. image

A new look at Wolf Waves

Your EURCAD, USDCHF and AUDJPY examples are not valid Wolfe Waves as points 3 and 4 have to be on opposite sides (above and below) of point 1. Also I have found that all these tops and bottoms lie on some fibonacci level. Particularly important are ...

A new look at Wolf Waves

Try Oanda along with most any other broker. Most MT4 brokers operate on GMT+2 timezone, whereas Oanda MT4 is based on GMT-5 timezone. That should solve your problem.

Two different MT4 with 2 hour charts

Try this link: url You may find some useful stuff there.

MQL4 fundamental data structures and algorithms

Try Oanda. I don't know about their MT4 platform, but on their java platform, you could trade 1 unit of a currency (that would be 0.00001 lots I suppose). At least it was that way when I was trading through them some years ago. Don't know what the ...

Nano lot broker anyone?

A long candlestick is just a a single piece of datum. Considered with other data, it might signify reversal or it might signify continuation of the move depending upon other pertinent data. Momentum indicators (oscillators) may be the key here. A ...

What does a candlestick with a particularly long body signal?

If you are entering a trade, you must be having some idea of which way you are expecting the price to go. If it doesn't do what you expected soon after entering (depending upon the timeframe you are using), you have obviously made an error in ...

Best way to keep losers small?

Interestingly, at GDP news time EU, GU as well as UJ were, each one, displaying reverse (some call it hidden) divergence on the last closing candles on 15m and 30m charts, indicating a continuation of previous trend.

Why did the USD/JPY go up after bad GDP figures on 29 January?

Being cautious (using moderate or low leverage) and being right (correct estimation and prediction of price movement) are two different things. Low leverage with incorrect market analysis (or incorrect execution) is sure to deplete the account as ...

Our Biggest mistakes is Over Leverage!

Trying to pick tops and bottoms can be very risky unless you have a very good idea of how to identify the exact top or bottom on any given timeframe. Momentum indicators, along with a good idea of reversal patterns can be handy. 10 pips SL are an ...

Picking tops and bottoms

Please send me a PM or email to gnw.consultants(at)gmail.com if you are interested in funds management.

Trader's Code

The Code has nothing to do with any contractual agreements with the clients. It governs one's trading activities according to his or her own sense of professionalism and integrity. By its very nature, it cannot be enforced by any other agency than ...

Trader's Code

Thank you shellsnail. I have found that I made losses whenever I violated one or more points of this code. Especially violations of points #6, 7, 8, 10, 11, 12 and 14 have cost me dearly. I am still not perfect in keeping the code in to the letter, ...

Trader's Code

One of the tenets of Technical Analysis is that history repeats itself. If you watch the charts, live and historical, long enough (a few thousand hours), no matter what combination of indicators (or lack of them) you are using, you are bound to see ...

Prediction is impossible when anything is possible

Thanks silverheat. Actually this is the code covering my own trading activities which I try to follow as best as I can. It is not my Trading Plan -- that is a full separate issue (covered under #2 and #3 of the code). There are technical reasons ...

Trader's Code