Falcon_Trader_1

Falcon_Trader_1 Updated 

Nifty 50 has reached a point where we can look at reversal. The Gann level + Falcon Wave count indicates that there is a reversal due for Nifty 50 around this range with target of 18100 levels to 18200 levels. Nifty is in 4th wave of daily blue 4 and therefore more room upward Looking at possibility of bounce around this zone for next few days Also...

Falcon_Trader_1

Falcon Wave D is a 5 wave pattern unfolding, and looks like we are in wave 3 completion, the current one up looks like an internal 4th wave of blue 3rd wave. Now, we can expect last leg down to complete 3rd wave and then it should go up in 4th wave (blue) as shown above and in the chart. More on this in next few days.

Falcon_Trader_1

Happy New Year 2023 - Follow me on Trading View for daily Nifty50 chart. Nifty is moving in upward trajectory with major resistance taken in Daily Chart and now headed towards 18337 levels and further up to complete red 3 wave. Yesterday US markets were closed / and Dollar Index move today has been only favourable for Nifty50. With earnings season coming up,...

Falcon_Trader_1

We are in downside move of Wave C, we are counting 5 waves down out of this wave 1 has been extended, and now we are in wave 3 which seems playing with our minds. Wave 3 looks finished, may be not, initially looked like upside was wave 4, but what now? Looks wave will be over extended - and then wave 4 will be pending? Keeping all this aside, follow rules - and...

Falcon_Trader_1 Updated 

IN the following chart we have used indicators to show over bought and over sold regions, (not using RSI), and it seems that we have reached a Local High, and therefore there is possibility of downtrend, which also confirms with Falcon Wave counts. There is possibility of 17100, 17000 levels, and we will have to see this week where price will go. Falcon Wave...

Falcon_Trader_1 Updated 

Wave 3 internal of Wave 5 (blue) will be short, followed by 4th wave down till 17700 levels (or slightly higher) to bounce off for final wave 5 and then ABC wave of elliott and wave D of Falcon

Falcon_Trader_1 Updated 

Can Nifty move towards 17200? Looks possible, with Falcon Waves pointing towards some market structure that can even go to 16800 for one last time. At this moment I am prepared for both, market maker can do anything but they can not manage Heikinashi Candles so don't miss that, and if you want to reduce noise then shift to Renko trading, however I just want to...

Falcon_Trader_1 Updated 

Nifty looking to test one more time before going higher, this break below 17500 to test 17200 looks possible on Daily and Weekly time frame and we can achieve this in next few days. This expiry will be in favour of bears, or for people who want to trade with tight stop loss. ON the upside, looking at 17400-17200 levels for a tap bounce, perhaps after expiry...

Falcon_Trader_1

Free indicator for public, on trading view, Falcon Channel Commodity Index or Falcon CCI gives a buy signal - this looks like good area to aim for 1000+ points before further correction analysis. Happy trading!

Falcon_Trader_1 Updated 

Nifty headed to compete wave 5, and then bounce Looks like we will see price touching 17100 levels, 17000 Your thoughts?

Falcon_Trader_1 Updated 

We are somewhere in overbought area but this rally is continuing upwards, we all want a pull back, don't we? Looks like 17910 is possible, with pull back to 16400 levels on cards, and then rally should continue upwards. Does this mean local bottom was done? Very much possible with new Falcon Wave count shared earlier What are your thoughts? I actually had...

Falcon_Trader_1 Updated 

The green weekly of Falcon Waves (Not Elliott Waves) looks completed now. This was a new impulse which initially we were thinking it to be wave 4 upside on monthly, however that was confirmed it is not because it kept on moving higher. We then used simple Falcon Wave trigger line concept on Heikinashi Candle, and now it seems that Wave 3 green numbers has...

Falcon_Trader_1

For now looking at Wave 3 down in blue, followed by wave 4 and then wave 5 Post wave 5, up rally should continue.

Falcon_Trader_1

Nifty looks like it just made a wave 4 on weekly green, and 5 is still pending. Last 30 minutes today had high momentum, unlikely that we have finished local top. More to go! and therefore looking at wave 5 towards what is marked in green in the chart.

Falcon_Trader_1

Falcon Wave count shown earlier gave 5 waves on weekly count green, this was a big drag and surprise. What saved us was Heikinashi Candle trading which I have mentioned in last posts as well. Never trade against trend, never trade against Heikinashi Candle system. Looks like we are moving downwards, there is some support around 17200, but with US markets...

Falcon_Trader_1

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,...

Falcon_Trader_1

We were looking at this wave 4 upside which should finish by 30K levels. We have finished weekly A and weekly B marked in green. Now we move for weekly green C in 5 waves, out of that wave 1 and 2 is finished. Looking for wave 3 to start with nice bounce off wave 2 of wave 3 ... looking at 30K touch down soon.

Falcon_Trader_1

In this analysis we are just looking at the weekly days at key turn around periods. It seems that Monday tops the list of trend change, having said that this also means option seller is trying to trap people who have taken positions (in the same direction as Thursday) over the weekend. A cut throat theta decay perhaps over the weekend, followed by a trend change...