Not an analysis, though I used recent price changes in CAC40 to illustrate the idea behind Wolfe Wave
. Things are never ideal so it remains a theoretical tool but it can help to find out target levels in case of breakout scenarios from converging triangles. The presented example is a bullish
scenario but you can do the same for a bearish
scenario if the triangle is pointing upwards, just invert the figure.
There are other subtle things in Wolfe
analysis but you get the big picture here.