This is not a forecast or a signal! it's just an example of an occasion which a pattern like Wolfe Waves worked well !
This chart has almost followed the rules of Wolfe waves , unless the first point is not exactly on the right place!
1st point: Start of the wave
2nd: First top of the channel
3rd: First low of the channel
4th: Second high of the channel...
The wave is currently finalized and is working as planned:
I ended the previous post pointing at the lack of the volume required to confirm trend reversal at supposed point 5.
And in fact, for quite a while the price kept slowly drifting up and down without substantial moves in any direction.
This situation lasted until bearish volume spike on 07/11 that...
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...