Support and Resistance: Two of the dumbest things a traded should follow. Often you will see an analysis of a chart, by a "professional" of course (especially on TV) marking the most recent high and low as "support and resistance." Wolfe Wave Practioners giggle.
Wolfe Wave Practionesr know that by reading the chart from right to left, (that's right, from right to left, the intelligent way) that it is a probable Wolfe Wave 5 point, which means a race to the Target Line.
The idea of Support being previous buyers, and Resistance being previous sellers, is retarded. On a long term chart these people are all dead!
Wolfe Wave Practioners know that a break to a new high or new low adds more time into the balancing of price and time. Thus allowing the market to float into a natural rhythm.
I didn't "invent" the Wolfe Wave, I "discovered" it.
