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Wolf Wave Chart Pattern
Wolf wave
pattern consists of 3 tops and two buttoms, this levels
in the bearish wolf wave, between every top at
least 1.27 fibonacci level, and the point 4 suppose
to be heigher than the point 2, drawing a stright line
from point 1 passing point No. 4 will give your the expected
target. this is the basics information to recognize the
wolf wave pattern.
The trade above taken in April 22, using
EURJPY pair in 30 time frame. in general reconginzing the
point No. 1 is the most difficult point in all points, when
you get recognized with the first point, that will help you to
stay focus with the trend and get the right entry point, in
most cases people see the point 1 too late, and they miss the
trade just because point 1 wasn't clear enough, so they make
the worng count and miss the trade.
The
best way to be in focus with the Wolf Wave, is the monitor
every 1.27 fibonacci level, most Wolf wave starts with a 1.27
fibonacci level, then the wolf wave suppose to formed when
point 4 stop before reaching point 2 then reversing to make a
new 1.27 fibonacci level in the other direction, if you reach
this point with all the right calculation then you have a wolf
wave, all you have to do in that point is to draw a line from
point one passing point 4 to reach the target
point.
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