#Nifty || 23rd June 2022 || Falcon Trader || Daily Analysis

On 22nd June we were expecting wave b of Falcon Wave and it was perfect. But is that finished?
We also tried to use Elliott Wave but looks like that was not impulse as wave 4 went below 61.8%
However we were expecting wave b of Falcon wave and it can go down to 15300 levels.

For today, I will wait and watch SGXNIFTY looks stable
There is possible momentum for upside as Falcon Waves C is pending but todays price action will determine next week's price action

Thursday is tricky... and we can win if we follow basic rules.

Always use risk management - use stop loss - think before you act - act before you think

Top things to keep in mind:

1. We have to go up one last time, but this is not reversal zone (in 1H) - a small dip to 15300 is possible

How can I plan reversal:
1. You can use RSI crossover
2. You can wait for one green candle closing above previous red candle

Commentaire:

However if b wave is done then we will move towards c
Best way to understand this is use trigger line method, that is wait for green candle closing above previous red candle top

Commentaire:

Pretty satisfied how Falcon Waves work.

1H time frame closing will lead us the path.

Commentaire:

Perfect start this only meant that yesterday's b projections were right.

Now looking at 5 waves upside to complete Blue A

Commentaire:

Wave 2 was invalidated, sticking to original plan.
Chart updated:

Commentaire:

Wow . b done now?