Step wise trading strategy using wolf wave candlestick pattern

Step wise trading strategy using wolf wave candlestick pattern

WOLF WAVE CANDLESTICK PATTERN

BASIC INFO Wolf wave candlestick pattern, aaj kal trading mein use hone wala ek pattern hai jo price action ka use karta hai. Is pattern ko banane ke liye 5 waves ka use kiya jata hai. Is pattern ke naam 'Wolf Wave' hai kyunki iske waves ek wolf ki teeth jaise dikhte hai. IDENTIFICATION Is pattern ki pehchan karna aasan nahi hai, lekin iski pehchan karne ke liye chart analysis ka use kiya jata hai. Is pattern mein 5 waves hote hain, jinme se 2nd, 3rd aur 4th wave ki length aur time duration same hoti hai. 1st aur 5th wave mein price action move hota hai, jo normally opposite direction mein hota hai. 5th wave ki completion ke baad price action retracement karta hai, aur yeh retracement 1st aur 4th wave ke beech mein hota hai. TIPS FOR TRADERS Is pattern ka use traders isliye karte hain kyunki iske through future price action ka direction predict kiya ja sakta hai. Agar aap ek bullish wolf wave pattern dekhte hain toh yeh show karta hai ki price action up move karega aur aap long position le sakte hain. Ek bearish wolf wave pattern dekhne par traders short position lete hain kyunki yeh show karta hai ki price action down move karega. TRADING STRATEGY Wolf Wave candlestick pattern aik trading strategy hai jo market ke price action ki analysis per based hai. Ye pattern jis tarah se ban'ta hai, uske mutabiq kuch steps ko follow kar ke traders iska faida utha sakte hain. Yahan main aapko kuch asan steps batata hoon jin ko follow kar ke aap Wolf Wave pattern per trade kar sakte hain: STEP 1 Sab se pehle, apne trading platform per price chart open karein aur usmein timeframe set karein. Wolf Wave pattern normally long-term timeframe per form hota hai, jaise weekly ya monthly chart. STEP 2 Ab chart per trend lines draw karein. Wolf Wave pattern ki shuruwat normally uptrend ke sath hoti hai, is liye aap trend lines ko upwards direction mein draw karein. STEP 3 Next step, price swings ko calculate karna hai. Wolf Wave pattern mein 5 price swings hote hain jo trend lines ke sath intersect karte hain. In swings ko calculate kar ke aap next steps ke liye ready ho jayenge. STEP 4 Ab aapko price swings ko validate karna hai. Validate karne ke liye, aapko Fibonacci retracement tool ka use karna hoga. Aapko swings ke high se low tak Fibonacci levels draw karne hote hain. Agar Fibonacci levels ki tarah swings intersect karte hain to ye Wolf Wave pattern ke liye valid hai. STEP 5 Jab Wolf Wave pattern confirm ho jata hai, tab aap trading entry points ko determine karte hain. Agar pattern bullish hai to aap buy position lenge aur agar bearish hai to aap sell position lenge. Entry points ki determination ke liye aap price action analysis ka use kar sakte hain. STEP 6 Stop loss aur take profit levels ko set karein. Stop loss levels ko aapko price action analysis ke mutabiq set karna hoga. Take profit levels ko aap swings ke heights se determine kar sakte hain. STEP 7 Last step, apni trade ko monitor karna hai. Aapko apni trade ko closely watch karna hoga aur apne stop loss aur take profit levels ko update karna hoga, agar market conditions change ho jaayen. Ye tha ek basic step wise trading strategy Wolf Wave candlestick pattern ke liye. Ye strategy sirf basic guideline hai aur aapko apne trading style aur risk appetite ke mutabiq customize karna hoga. SUMMARY In summary, Wolf wave candlestick pattern ek price action based trading pattern hai jiska use future price action ki direction predict karne ke liye kiya jata hai. Is pattern ki pehchan karna chart analysis ka use karte hue kiya jata hai.