Wolfe Wave
short toward 37000main scenario
short toward 37000
why ?
completion of wolfe waves on 4H
a clear divergence on MACD on 4H
price stable below 200 EMA on Daily and 4H
price action about breaking trend line of 1-4 of wolfe waves
indication of ichimikou for bearish move(for simplicity i turned off ichimikou on the chart)
alternative scenario
in case of failure and price goes up and stable inside the channel depicted on the chart and stable above 200 EMA ,the target is 46000
any idea ,please share
tnx
NIO 1h wolfe wave bearishI would stick with the trend between the two solid lines unless it breaks the channel.
A Wolfe Wave is a chart pattern composed of five wave patterns in price that imply an underlying equilibrium price. Investors who use this system time their trades based upon the resistance and support lines indicated by the pattern.
GME Wolfe Wave SetupGME Triggered a bullish wolfe wave entry at $82. It was one of many tickers that developed this setup during the recent pull back across the markets. However this Wolfe wave caught a 130% move. In addition to bull entry trigger from the script, the DBOL algorithm also switched out of a sell short and into a long position. Positioning in calls and staggering the expiration would not have been a bad idea.
Wolfe Wave Pattern on the 4H chartLooking for a quick climb to around $9850 in the coming days.
After a touch of around 9850 we could see a relative quick reaction down. If this works out this will be the 5th touch of the ~8830 level which won´t last in my opinion. First level of interest for me from that point is around 7980 level.
Please use this for informational purpose only and have a great weekend.