has1988
Education

Bullish Wolfe Wave Pattern

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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I just spotted a very nice Wolfe wave pattern. Sadly just right now. But I thought to publish it as education, since it strictly followed the rules.

1. Waves 3-4 must form a channel with wave 1-2
2. Wave 1-2 equals waves 3-4
3. There is regular time between all waves
4. Wave 5 exceeds the trendline created by waves 1 and 3
5. If price rebound above the trendline created by waves 1 and 3 then BUY
6. Sell Limit gets adjusted to an extended trendline that we draw from wave 1 to 4
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