Rules for Bullish WolfeWave Structure
Please note the odd sequence in counting, as you will
is necessary for the inductive analysis. By starting with a top we are assured of beginning our count
on a new wave. (The reverse would apply for a bearish wave.)
The 2 point is a top.
The 3 point is the bottom of the first decline.
The 1 point is the bottom prior to point 2 (top), that 3 has
The 4 point is the top of the rally after point 3.
The 5 point is the bottom after point 4 and is likely to
exceed the extended trend line of 1 to 3. This is the entry point for a
ride to the EPA line (1 to 4).
Estimated Price at Arrival (EPA) is trend line of 1 to 4 at
apex of extended trend line of 1 to 3 and extended trend line of 2 to 4.
Estimated Time of Arrival (ETA) is apex of extended trend
line of 1 to 3 and 2 to 4.