Falcon Waves ABCDE pattern on SGXNIFTY
Plan your #Nifty50 trade with me on Trading View
Looks like we are going down in wave B and then will go up in wave c followed by wave D and consolidation E wave
Dow Jones on a daily timeframe making a bearish pattern called double top aka known as M pattern
The two tops on charts marked with rectangle box
This +500 can be short covering
Wait for Dow Jones to break its double top
If it breaks we may see some good upmove in Indian stock market too
Its bearish pattern can affect the Indian stock market little bit If it's...
For a upward momentum in nifty it has ton breakout above 16692 levels and give breakout for a rectangle pattern it has created on a 15 min chart. It looks like a result heavy Monday so we would expecting some downside in the index on Monday.
Disclaimer:- This idea is created for educational purposes. Do not invest on this idea, Do your own research or consult...
SGX NIFTY is Consolidating From Today's Opening SGX NIFTY Needs To Break Previous Day Closing High @16230 If SGX NIFTY Breaks @16230 Then SGX NIFTY Turn Bullish Trend If SGX NIFTY Breaks Today's Low @16168 Then SGX NIFTY Will Turn Bearish Trend
• On Thursday Night SGX NIFTY Hit A Low Of @15800
• On Friday SGX NIFTY Closed At @16200
• That's A 400 Points Move...
Opening around Purple line, breach will lead to approach to 17000 (red line) which will be critical support for further selling to 16800 and possible even lower.
On the upside, squeeze will cause cover to cover above 17350-360 range
A simple price action strategy explained for SGX NIFTY
Same can be applied to indian NIFTY too.
Explanations; Origine of engulfing (peak) formed at 18621
First drop from peak completed with climax (5waves) indicating SHORT TERM REVERSAL .
Now ,recovery to resistance Level (minor SR) is nearing to complete at 18123.
What next? Selling will resume and drop in price...
SGX NIFTY which is traded based on our indian NIFTY, will give you an ADVANCED movements before our market opens.
This will give traders an edge to take or quit positions ,sometimes loss of sleep also!
Elliot waves should be drawn as per cash markets(as per Glen neely) But there is nothing wrong since this future is the mainly traded by matured participants unlike...
