#Nifty || 30th June 2022 || Falcon Trader Analysis for #Nifty50

Greetings!

Nothing has changed, and my view remains the same. We are looking at Blue B and we will go there in zig zag fashion. Usually one complete wave finishes in 3 or 5 sub waves or you can say 3 or 5 zigzags. There is a zig zag indicator also that you can use.

So let's wait for B to finish before taking longs. Yes intraday levels, you can still play around on 5 or 15 min time frame, but I want to focus on wave counts and if you want to make money - then key is to remain with trend.

So what are we looking at?
Blue B is my daily Falcon Wave count, once that finishes then there will be good up move. My buying area will be using Falcon trigger line method, that is wait for green candle closing after previous red candle, only after we reach wave B around 15500 levels.

Enjoy trading!

Comment for questions, I will try to answer if i know the answer ...

Comment:

Clean chart :

Comment:

Correction: the heading date is 29th June 2022 and not 30th June 2022.

Read heading text as:

#Nifty || 29h June 2022 || Falcon Trader Analysis for #Nifty50

Comment:

Internal counts,

One good rule that you can always use comes from Elliott, where he would say if in wave 1 is normal then 3 will be extended, or if 1 and 3 is normal then 5 will be extended. Similarly if wave 2 is normal then wave 4 will be complex.

What is it called? Alternation?

If we use something like this in Falcon Waves,
And go back to previous blue ABC (where blue colour ABC comes from daily chart) then we can clearly see last time it was normal, and perhaps now it is complex?)

I will still not say that it is complex, using Falcon Trigger line method can help you.

I have mentioned this many times before.

The correction of 3,3,5 or similar concepts can be used here to understand wave down counts from A to B.

So we can saw we had red a (1H chart is red colour counts), where red a is defined by 3 waves abc shown in yellow colour.

Similarly, wave red b has 3 waves and now we are in red c which will have 5 waves.

Out of this wave 1 and 2 is done, so expect gap down tomorrow and we should finish wave B blue tomorrow if all goes well.