#Nifty 26th July 2022 || Falcon Trader Analysis

In the post that was for today 25th July 2022, Link below (Nifty - what next? July Month Expiry - I had mentioned that we are looking at some local top to be formed.

Having said that - there are technical analysts who are looking at bigger trend move up in 5 waves.

While we still hold Falcon Wave - where green A weekly wave was formed, and now going down in weekly green B wave.
This needs to be done either in 3 wave or 5 wave.

The three wave scenario, blue ABC, has 5 waves down to form blue A of daily TF.
This is shown in the chart and most likely true where wave 2 is formed.

We will get more clarity in next 2-3 days.

Happy Trading!

Komentar:

Important to mentioned we had clear price trend change on vertical red lines

Komentar:

Cleaned some clutter.

ABC wave up to form wave A

Komentar:

In Falcon Waves

We simply follow the higher time frame trend, and then see to achieve it are we using a 3 wave structure or 5 wave structure

a 3 wave structure typically is ABC waves

and 5 wave structure is 1,2,3,4,5 waves

Now keeping a 3 wave structure intact - we can still have 3 or 5 waves within waves

E.g. Blue A was made in 3 waves, Blue B was made in 3 waves and Blue C was made in 5 waves