Towards the end of the last post on Wolfe Waves back in December, we identified a weekly bullish Wolfe Wave in the TLT (Long Term US Treasury Bond ETF). The wave completed just last week, then interestingly enough, turned back down. If you would have gone by the WW rules and got out at the target line, that would have been around a 10 point profit
On the 9th of December I posted about a potential bearish wave in the S&P 500 & VTI ETF. Yesterday (17-12-18) it hit the target line exactly in Both!
I noticed a bearish Wolfe Wave that looked like it was about to reach point 5. I continued to watch, and sure enough it looks like it may hit the target line!
Wolfe Waves Many years ago when I was still finding my feet with investments and looking to “get rich quick”, I took an interesting trading course by a gentleman called Bill Wolfe on an investment strategy called “Wolfe Waves” (named after himself obviously). It is similar to the Elliott Wave Theory, however much easier ..