Analyze the market situation when no one and nothing distracts your attention. 3. Being nervous in the market results in mistakes Mistakes cause losses. . 4. Plan the negotiation and operate only according to the plan. 5. Enter the market only in the “Sweet zone” area, in the area that gives the maximum trading result. 6. Do not enter the market, starting from "stop" levels 7. Keep a trader's journal! Record ALL transactions, even the most disastrous ones. 8. Don't be afraid of finding yourself OUT of the market. 9. Always be aware of your risks. Never trade with greater risk than your risk management can allow.
Wolfe waves as a kind of "expansion wedge" pattern “Wolfe Waves” are nothing more than an expanding wedge . In fact, we see several successive highs and lows forming, and the count begins at point 1. It is called the base of the first drawdown for the bearish pattern (the base of the first vertex for the bullish pattern). The word "base" is used for a reason: it is understood as a Peru Mobile Number List line of three consecutive extremes, points 1, 3 and 5. Unlike the "Three Indians", they do not necessarily have to be apexes in the bull market or bottoms in the bassist Point 1 can be formed under consolidation conditions. Basically, it is made up of five waves. Bullish “Wolfe Waves” Pattern A bullish pattern, in general, looks like this: LiteFinance: Wolfe Waves Wolfe Waves Device.
Characteristics of Wolfe waves. Wolfe Wave Signals | Litefinance To build it, it is necessary to form a double top, where the second peak will be below the first (point 4 is lower than point 2). Here, point 1 is the base of the first peak (point 2) Point 3 is the minimum value of the correction wave after its first peak. Point 4 is the maximum of the second peak. Point 5 is the intersection of ray 1-3 (ETA) Sweet zone is the zone for opening long positions, it starts from point 5 and below. ETA (Estimated Time at Arrival) Estimated time of arrival, ray 1-3 EPA (Estimated Price at Arrival) Estimated arrival price, lightning 1-4 The intersection of ray 2-4 and ETA indicates the date when the price will reach the target.