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

Jun 23, 2022

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

Jun 23, 2022

Note

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

Jun 23, 2022

Note

Pretty satisfied how Falcon Waves work.



1H time frame closing will lead us the path.

Jun 23, 2022

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

Now looking at 5 waves upside to complete Blue A

Jun 23, 2022

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

Jun 23, 2022

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Wow . b done now?