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
- 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.