WOLFE WAVES

1. Think of Wolfe waves as ENDING DIAGONALS. Ending diagonals occur in wave 5 and wave C. So, they usually mean a change in direction of the market.
2. It requires CONTRACTING TRENDLINES with the final wave overshooting the trendline.
3. The price and time estimate can also be made.

• For the PRICE TARGET join wave 1 and 4.
  
• For the TIME TARGET the point where contracting trendlines meet.