HOW-TO: Wolfe Strategy [Trendoscope]
Just made this short video to explain the concepts of Wolfe Strategy which I recently published.
Wolfe wave is popular concept among option traders. However, I have made some tweaks in this strategy to standard wolfe pattern trade rules.
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[*] Entry price based on breakout
[*] No moving target - using flat target.
[*] Entry is done based on risk reward
[*] Not time bound
[*] Intelligently decides whether to place stop order or limit order
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Few possible future improvements
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[*] Make bidirectional trades possible
[*] Better filters to chose long and short trades or when to trade
[*] Lot can be improved on Wolfe scanner to identify more patterns
[*] Exit strategy - can introduce optional trailing
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Thanks for listening. Hope you enjoyed and learnt something from this :)