Here if you see, I have marked two circles, the first green A wave was for wave 2 orange of monthly wave count, and this time second green A formation is for the wave 4 monthly count. Pretty simple, yet market can always surprise.
The first one was formed around 10th Jan 2022 and this time it is around 19th July 2022.
I will give a day or two for this to work or we will analyse for our mistakes if any.
I still take trades based on simple trend and Falcon CCI (Free indicator on trading view) and Falcon trigger line so that we work on candle by candle.
Please keep a simple rule, never go against Heikinashi Candles (if HA candle is green trend is up, if it is red we go down) simple.
Clear chart
Looking for 1H time frame chart, check the links below.
So what are we saying? I want this green A to finish somewhere - and then we will check again. I will share more charts soon.
Please check previous charts and see the transition that we had from 1st July onwards - all this is Falcon Waves - has always helped us in trading.
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Daily Chart Blue ABC to form green A
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Example: 10th Jan 2022 Nifty Daily Chart showing Weekly Wave A formation
I applied Falcon CCI in Tradingview chart, but found it a lil difficult to understand. There are 2 Green lines, 1 Grey line, 1 White and 1 Red line. Then there are 3 moving averages. Request if you could tell me how to use the indicator for trading signals/trends. Thx.
Today again, Nifty went up by 180 pts. Looks like this was the last upmove before the fall.. (or are we looking at any more surprises (upmove)?? Nifty seems to be on an upmove mission.. 15850 to 16550 in a week..That's quite a move. Tomorrow being weekly expiry, I hope to see some fireworks.. Will we? What are your views?
Falcon_Trader_1
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@Raminiz, Yes the overall move was great - impulse moves in bear market can be good too if we catch them. One way to do this is use Heikinashi Candle and 1H time frame is good. Here in this chart below: - you can see that we have red candle. Max upmove that is left is only for stop loss / long squeeze if any. Tomorrow will be very interesting. My Falcon Wave counts remain same for now. No changes. This market needs you to play well as a trader not just planner, meaning that trading psychology needs to be top notch. This happens only if rules are followed. Stop loss, entry exit etc.