#Nifty || 9th June 2022 || Falcon Trader || Daily Analysis

Today's price action reminds me of Fed meeting that happened sometime early this year. The price on the day of Fed meeting was up mostly and then next day it Nuked. Same thing is expected here in India.

We finished wave 4 as shown in the chart, please check previous posts on detailed charts with wave counts - links given.

Some people are too Euphoric, and they think trading for 30 years with experience is enough to judge today's price action. I feel that market works and unfolds patterns and it has nothing to do with individual's experience.

Therefore, just follow your charts with stop loss always, draw your channels, and count waves.

Market moves in 3 or 5 waves and just see and understand this with good price action.

Enjoy trading! It should be fun .. only then it makes sense to spend soo much time and energy everyday .... make it a game!

Bears are having good laugh... they will be crushed soon but right now it is your time to pay market its tuition... and learn from hard way!

Comment:

Falcon Play ONE for 9th June 2022

Falcon Play is series of strategies that can be played. Trade at your own risk. This is for education purpose only.

Market opens gap down touched the D point as show in the chart below, and then goes to 16500 levels. Time will tell but levels can be checked and confirmed.

Comment:

If open is below the level D as mentioned above here is Falcon Play TWO for 9th June 2022

Falcon Play is series of strategies that can be played. Trade at your own risk. This is for education purpose only.

If Gap down is around 16180
Then Target is 16130 levels

Comment:

The bounce off above target of D was nice.

But this won't last long. We can see heavy selling once next level is reached.

Comment:

Upside wave 2 completed. Now moving down. Can we break todays low?