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I just found something similar to Wolfe Waves from Gann, who predates Wolfe by about 60 years. His books are inexpensive, materials common. Murrey is an improvement on Gann, and quotes/analyzes him further.
Page 51 Murrey Math Trading System ($80)
<quote>WD Gann said we should look for combinations of "3" and follow the trend, which in this case, it reverse, and then move back up. We shall call this 3rd higher low a "short-legged W." These are great buying opportunities.</quote>
The points are even drawn the same, 1 2 3 4 and 5 piercing the line from 1 and 3. Unlike Wolfe, the system has stood the test of time, is clear, and relatively inexpensive. The example was Feb01 to April 1994 DJIA.
Since the Wolfe Wave rules published are considered "wrong" and outdated, I'd rather rely on time tested, forward test proven results.
Ok, I guess I'm not being helpful anymore, and I certainly wasn't inspiring the critical analysis I was hoping for. I'll unsubscribe and wander off. I'm probably too convinced that this is a historical methodology to change my mind anyway, especially since I couldn't get statistics. My interest is making EA, and I don't think WW are suitable for that.
Linear Mode
