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

Internal counts and what is happening with Blue B: -

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.

Comment:

Check out 15 min chart here and see what is happening between Wave A blue and Wave B blue

Comment:

We will review Wave counts again once we reach Wave B

- some key points to keep in mind

1. Falcon Waves is not Elliott Waves
2. Falcon Waves uses data from higher time frames and past to make wave counts on lower time frames

Comment:

Note Wave B will go below 15500

Looks like Wave 3 will end at 15500 levels, then 4 will be short followed by 5th.

This is one good way to anticipate target.

Comment:

IMPORTANT NOTE:

The relationship of Wave C with wave A and B is 61.8% to 100%

So once we finish Wave B (blue), then we will get clear targets for wave C
E.g. if Wave B ends at 15300 then Wave C will end around 15700