Forex Wolf Wave Signals Trading Strategy
Forex Wolf Wave Signals Trading Strategy:
Elliot Wave indicators
Wolf Wave system is particular methodology that perhaps the most unique, effective trading technique I’ve (Linda) ever come across! It was developed and shared by a good friend, Bill Wolfe, who for the last 10 years has made a living trading the S&P.
His son, Brian, also trades it. Brian was the first teenager I’ve ever met who consistently made a good income scalping NYFE (Knife) futures from his apartment. Brian, now 21, has expanded into trading the Wolfe Wave in other markets.
Bill’s theory of wave structure is based on Newton’s first law of physics: for every action there is an opposite reaction.
This movement creates a definite wave with valuable projecting capabilities. This wave most clearly sets up when there is good volatility. With a bit of practice, it is easy to train your eye to spot these patterns instantly.
The following rules will make sense when you examine the examples. (Please note the odd sequence in counting. As you will see, it is necessary- for the inductive analysis.)
By starting with a top or bottom on the bar chart, we are assured of beginning our count on a new wave. This count is for a buy setup. We begin the count at a top. (The wave count would be reversed if we were starting at the bottom looking for a sell setup).
1. Number 2 wave is a top.
2. Number 3 wave is the bottom of a first decline.
3. Number 1 wave is the bottom prior to wave 2 (top). Point 3 must be lower than point 1.
4. Number 4 wave is the top of wave 3. The wave 4 point should be higher than the wave 1 bottom.
5. A trend line is drawn from point 1 to point 3. The extension of this line projects to the anticipated reversal point
which we will call wave 5. this is the entry point for a ride to the epa line (1 to 4).
6. The Estimated Price at Arrival (EPA) is the trend line drawn from points 1 to 4. This projects the anticipated
price objective. Our initial stop is placed just beneath the newly formed reversal at point 5. It can then be
quickly moved to breakeven.
IMPORTANT POINT: You cannot begin looking for the Wolfe Wave until points 1, 2, 3, and 4 have been formed.
Keep in mind that point 3 must be lower than point 1 for a buy setup. It must be higher than point 1 for a sell setup.
Also, on the best waves point 4 will be higher than point 1 for a buy setup and lower than 1 for a sell setup. This ensures that absolute runaway market conditions do not exist.
In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.
For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.
How to install Forex Wolf Wave Signals Trading Strategy?
- Download Forex Wolf Wave Signals Trading Strategy.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Load indicator on your chart
How to uninstall Forex Wolf Wave Signals Trading Strategy?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.
