Wolfe wave explained

FX:FRA40   CAC 40 Index
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Not an analysis, though I used recent price changes in CAC40 to illustrate the idea behind Wolfe Wave . Things are never ideal so it remains a theoretical tool but it can help to find out target levels in case of breakout scenarios from converging triangles. The presented example is a bullish scenario but you can do the same for a bearish scenario if the triangle is pointing upwards, just invert the figure.

There are other subtle things in Wolfe analysis but you get the big picture here.
nice normal tp is tp2, tp1 is use by geo WW traders bla bla
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