Wolfe Wave
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Wolfe Waves are classified as a price pattern / reversal-and-continuation harmonic structure based on natural market geometry.
Here is the clean classification used by professional traders:

Wolfe Wave Classification
Category:
Geometric Price Pattern
Harmonic (but not Fibonacci-based) Structure
Reversal + Continuation Pattern
Wave-based Pattern (5-wave market rhythm)
Predictive Pattern (projects an “EPA/ETA” target line)

Not part of Elliott Wave
Even though it uses 5 waves, it is NOT an Elliott Wave structure.
It’s purely geometric: it relies on supply/demand lines, symmetry, and timing, not EW rules.

How traders generally categorize Wolfe Waves
If you look at books, banks, and prop-firm classification charts, Wolfe Waves fit under:
1. Price Action Patterns

• Five-leg structure

• Rising/falling wedge shape

• Identifies imbalance → correction → trend extension

2. Harmonic Patterns

• Similar to harmonics (Gartley / Bat / Crab)

• BUT Wolfe Waves do not use Fibonacci rules → they use geometry only

• → So they’re considered “harmonic-style geometry patterns.”

3. Reversal & Continuation Pattern

• Often acts as a reversal pattern at Wave 5

• But frequently acts as a continuation pattern inside trends (especially “3-drive” continuation Wolfe waves)

Simple one-line answer
Wolfe Waves are classified as a geometric price-action pattern with a 5-wave harmonic structure used to predict reversal and continuation targets.