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#Nifty Falcon Wave Counts Recently we had to re-look at what is happening with Falcon Waves. Even though we use two more tools along with Falocn Waves (always) that helps, Heikinashi Candles (as we do not trade against the trend) and Falcon trigger line, however, counts can not be wrong too many times, and we were on the wrong side of the count. Upon deep analysis, here is a new count, where ABCDE pattern of Falcon Wave is in formation. Out of that Wave D - 5 waves finsihed and we are in wave E - which can be tricky. Today because DXY went down yesterday - Nifty went up, but DXY has found its temp bottom. This means that Nifty should fall? Perhaps yes. We have finished 5 waves up, and if we do not get pull back then there is something wrong again with entire process. DXY chart found temp bottom here on Daily Chart: We can find some downard pressure now, but this is a good learning for all of us. One good way is to follow the trend, not a single candle close below previous candle - falcon trigger line method that can help you identify the way forward.
NSE:NIFTY
by Falcon_Trader_1
DXY set for Decisive MoveOn Daily Basis: US Dollar Index (DXY) is correcting after it achieved the target of 109.29 as predicted in earlier published idea. 105.50 is a near term support level which is a test of DXY for further next decisive move. The trend is bullish right now and it should take the support of 105.50 with next probable target of 112 to 114. RSI on weekly basis has come down and on monthly basis it has scope to go to extreme overbought position which means it will be a final up leg. Usually it is volatile top. August or September may prove to be a blow off top in DXY. The ultimate target of 120 may not be ruled out. Warning and Disclaimer: Above prediction should not be taken as financial advise, it is a personal opinion. Consult your financial advisor. Investment is subject to market risks. Past performance is not the guarantee for future performance. It is for educational purpose only.
TVC:DXYLong
by AnkurSharda3
Dollar Index Chart over H4 Chart.US Dollar Index in 20-year peaks The index extends the optimism seen at the beginning of the week and trade beyond the 108.00 mark for the first time since October 2002, always underpinned by the unabated sell-off in the euro. The move higher in the dollar comes on the back of diminishing US yields, as recession concerns seem to prompt investors to seek shelter in the safe haven universe for the time being. Friday’s release of the June Payrolls, however, appear to have mitigated part of those worries and now favour the continuation of the current pace of the Fed’s normalization process. Speaking about recession fears, the Atlanta Fed’s GDPNow sees the economy contracting 1.2% in the April-June period (from a 1.9% contraction recorded previously).
CAPITALCOM:DXYLong
by charliedavies770