Nifty has formed 5 waves to complete this massive up rally, wave A usually is great impulse in Falcon Waves (Not Elliott Waves) and this entire journey ow is mapped. Thanks to Heikinashi Candles and Falcon trigger line concept, that enables me to win during this entire rally.
While I keep outlook for short - to form green B (which will have blue daily abc waves), I still think that this massive rally can be seen possible from monthly or weekly waves possibilities and not from 1H or smaller time frames.
Having said that I have shared falcon Waves count for daily, weekly and even monthly Nifty waves.
The overall upmove for Nifty still stands to complete 4th wave on Monthly chart which will ultimately go down to form wave 5.
This upmove to form wave 4 in monthly has a 3 wave pattern called abc waves in weekly, out of which green a - weekly wave is complete, now we go down to form green b and then up in wave c.
Possibility of green b - it can be 5 waves down - making people believe that it is over - however then we will break high of a to complete in wave c which will be around 23.6% of monthly wave - to form wave 4.
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Update:
Market moves in 3 waves or 5 waves. Often an impulsive wave usually is a 5 wave up or down.
When we initially talked about Green A weekly wave to Green B weekly wave, we were saying Blue ABC waves (a 3 way pattern) but this can be a 5 wave too.
Therefore I want to keep a 5 wave down possibility open for now and that is why I have updated this count (while overall wave B and then up in C remains same.
We are just talking about internal counts.
At daily and hourly level.
So we are in wave 1 of 5, this wave 1 will have its own 3 wave or 5 wave and so on. As wave has fractal nature.
I hope you like this, please add comments or views. Thank You.
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If we keep above blue ABC plan also, we can have a wave A which will have 5 waves and will look something like this. Taken out from the past from Nifty chart itself
I'm able to see Green A, but can't find Green B. Request if you could plot Green B, so that we know where it's heading to next.
Thx..