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Thread: Butterfly pattern and Elliot Wave theory

  1. #11
    Junior Member
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    Jan 2013
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    1. thx that's what i thought

    2. hmmm im not looking for shortcuts at all, just for joining people experience to my trading ;-)

    anyway thx a lot for your answer

  2. #12
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    Feb 2013
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    Hi guys, Gartley butterfly is similar to Wolfe waves right? I've been trading Wolfe waves for a while and looking at ways to fine tune my trading. It is infact quite a powerful tool and at times tests you (because the price projection in some cases, goes against the fundamentals).

    Anyways, my biggest question is, how to identify the 'perfect' WW or Gartley butterfly pattern. By perfect I mean riding the wave 5
    Also, does anyone have info on failed butterfly pattern (WW)??

    Thanks.

  3. #13
    Wizard
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    I think Wolfe Wave is different than Gartley / Butterfly pattern. I do not use Wolfe Wave so cannot comment much on it, but I use XABCD diagonal pattern a lot (Diagonal pattern). This pattern together with the Butterfly allows to spot the very end of the trend (wave 5), so you can ride the new trend (if you catch the right place). Gartley is more safe, you trade the first correction in the new trend.

  4. #14
    Senior Member
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    Jun 2012
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    The Elliott wave concept mentioned here looks tempting. I am confused about positioning the Butterfly in it... Is the Butterfly on the level of an Elliott wave 4&4 our is the CD leg consisting of a 5 waves?
    In any case, what is the the expected level of the W5?
    As W5 target, could I use this guideline in any of the two a.m. cases?
    http://astrocycle.net/PDF/WaveRatios.pdf

  5. #15
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    An exemple for the perfectly location for the Butterfly pattern.

    Butterfly pattern and Elliot Wave theory-eliott-harmonic.png

    Adrien
    Last edited by adrix12; 09-29-2013 at 10:48 PM.
    kor4x likes this.

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