The Wolfwave Pattern / Why walk with bulls - run with the wolves!

[agatto2]

Awsome melf   ive been keeping my eye on it,, I thought it was gonna work out,. Thanks for the hard work on the charts. I will find some more this weekend and post a little later    tonyg

[calven]

Great work guys! EQR seems to be working out nicely. Now approaching point 6 on the 1-4 line your drew...


cal

[Melf Elf]

GSS  completed a Bearish Gartley on December 8, then gapped down from 2.64-2.66.  GSS currently is 2.40.

I'm wondering if it's going to rally 10% here, to fill that gap. 

Background:

1. The Gartley was a fairly decent symmetry of both time and price:

Time: A-C was 14 days; B-D was 11 days.
Price: The difference between the A-B rally and the C-D rally was four cents.

2. After the Gartley completed at 2.82 and GSS gapped down, it appeared to find support at the A-C trendline on December 13 when it closed less than a penny above it.

December 14, however, GSS closed a penny below that trendline, but the candlestick was an exact Bullish Inverted Doji Star Hammer (the open and close both were 2.27), but that candlestick only is bullish with upside confirmation.

3. We got the upside confirmation on Friday, when GSS printed 2.35, a penny above Thursday's high of 2.34, and when it also printed 2.36, a penny above Wednesday's Bullish Doji Star Hammer high of 2.35 (buy pivot), so at this point, Wednesday's close, which was a penny below the trendline, looks like a fakeout to the downside.

4. MACD (see chart, next post) is supportive of at least a gap-filling rally to 2.64; it ticked higher from its signal line on Friday.  MACD might go up to the zero line, then fail there, but that would be okay as long as GSS rallies the 10% in the process, to fill the gap.

Summary:

The A-C trendline comes in on Monday, December 19 at 2.3096, so 2.31.  (It rises 0.00884 per day).

If GSS pulls back a little to the buy pivot area, 2.34..2.35..2.36, I'm thinking about buying it for a 10% gap-filling rally to 2.64-2.66, with a close below 2.31 as a stop, or  an intraday print below 2.28 (Thursday's low) as a stop.

Still thinking it over... 

[Melf Elf]

GSS - MACD chart:

[agatto2]

Thought i would post this as a study aid    Seems to me on this one, the ww whiped into another ww on down ward momentum, but of interest to me is the target for the second ww would be the high off the first !!  How kewl is that   

[agatto2]

Soryr bout the other chart guys, i copied from the voodoo guy site and dident turn out so well.

Heres EDMC off the 5 point and now looking for a nice drop ? We shall see

[agatto2]

Guys wht do you think of this   ive posted a 3 point chart ( observation ) for edmc . My theory is if we establish point # 2 in all of directions we will for sure know where point three is going to be by simply extending the line?  Look at the edmc chart below

[calven]

Im not sure what to tell you agatto. The pattern would fit except the "lead in" and trend don't compliment the pattern, therefore I would assume the WW pattern doesn't/can't fit for EQR. I can see your reasoning though....

QTWW & DESC are the best WW's I have seen us post so far.

[Av8trader]

Do you think CHINA still fits the pattern?

[agatto2]

I wounder  ,,, iyk    the stock is in  a slight down trend for six months, so i wonder if this is a valid pattern.

[calven]

Both of those look like they could work. Nice find. Applaud!

[rurouni]

Hi All,

First off, I would like to thank Calvin for this great tutorial on Wolf Wave.  I notice that some of you are using MetaStock software.

Calvin, I know that you are a pro trader.  I was wondering if you (or anyone else) have ever tried the Wolf Wave pattern recognition within MetaStock.  Is it accurate?  What is your input on this?

http://www.guppytraders.com/Metastock%20Formulas/metastock%20formula%2022.htm

Thanks in advance,

Wayne

[Melf Elf]

Basis the 10-Minute chart, we had a Symmetrical Triangle break to the downside in the final hour of Friday's trading, and also had a failed re-test of the pattern breakdown at the 3:30PM bar.

The re-tests of the bottom of the broken trendline is good example of a fractal, meaning a repeating pattern.

The pattern since Friday's downside break is a compressed, or 'mini" Symmetrical Triangle, so to speak; a smaller version of the much larger Symmetrical Triangle.  When it finally failed this afternoon at the bottom of the broken larger Symmetrical Triangle pattern, the SPX tanked.

[bjc]

Looks like SVA completed the bullish gartley and wolfwave pattern.  Was the 4th leg of the wolf leg too long, therefore destroying the pattern? 

Printed 4.30 today.

[bid2ask4]

Hello All - I'm a first time poster. Thank you Calven. I find this topic very compelling. I'm anxious for feedback about a Wolfwave pattern that may have formed with FORD. Unfortunately, I don't know how to get a chart of my work included here. Anyway, for those inclined to draw the chart for me/us, I would appreciated it.

From the $22.35 low on August 25, to the $29.85 high on September 13. This is point 1 to point 2.

From point 2 to the low of $16.75 on October 14. This is point 3.

From point 3 to the high of $26.40 on November 14. This is point 4.

From point 4 to the low of $13.91 on December 15. This IS point 5, or where point 5 was violated. In other words, I think we're at the buying point for the ride to point 6.

The line from point 1 to point 6 reveals a price target of $28. Not too shabby.

Thanks for your input.