Brutal and totally not planned green A (with blue ABC) show in the chart. In one month or about 20-25 trading days we should change our counts max one or two times. If we achieve this then success is ours.
I will explain step by step on what is on the table,
Monthly Wave counts shown in Weekly Time Frame Chart:
Falcon Waves move in ABCDE format marked in white Monthly chart waves marked in Orange We are in wave 4 going up in green ABC (weekly) followed by 5th Wave down
Weekly Wave counts shown in Daily Time Frame Chart: We have to finish Wave 4, (This was also shared earlier) In this, we are moving in ABC format to complete this. Weekly A shown in green now stands completed with blue ABC - ? Need confirmation on Tuesday So blue ABC to form green A - this was our logic from the start of this up trend
Now what? Scenario 1: If green A is finished because blue ABC is done and green A is done, then we move down to form green B) Here is 1H chart for that:
If this chart is too much for you, then just see blue ABC that is daily wave count, and dark pink is internal of this blue waves.
Why we changed count? Because today waves went above previous start indicating that green A was formed today, vertical trend change line also worked.
Komentarz
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We will get more clarity in a day or two. Focus should be on level to level trading with simple trend follow.
Nifty seems to be unstoppable here. Are we gonna witness a drastic fall on 20th and 21st (weekly expiry), or is it gonna continue its journey to higher highs!! It is currently resting at 16340. If it has to come down to 16000/15950 levels in 2 days, it would require a big down move tomorrow. What are your views?
Falcon_Trader_1
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@Raminiz, they key concept of rules come into play - the rules of trading that is always shared by me is never go against Heikinashi Candles in 1H. Falcon trigger Line method is also there to help.
Falcon Wave Count keeps evolving as market moves forward and I try my best to put counts in public. For now I am still sticking to green A weekly formed and we need to retrace down to form wave B which should be min 61.8% of wave A.
One key point - if trader is short - and market moved up in opposite direction, so take your stop loss or see Heikinashi Candle and don't trade against it
For now Thursday is near, and it is unlikely it will come below 16000 in 2 days. But wave count will develop and we trade accordingly.
Falcon trigger line method is very easy to use. I have written about it multiple times.
Nifty seems to be unstoppable here. Are we gonna witness a drastic fall on 20th and 21st (weekly expiry), or is it gonna continue its journey to higher highs!! It is currently resting at 16340. If it has to come down to 16000/15950 levels in 2 days, it would require a big down move tomorrow. What are your views?