#Nifty || 18th July 2022 || Falcom Trader Analysis for #Nifty50

15 thg 7, 2022

4th Wave down, and now brutal fall in 5th wave awaits ...

• We will go down to form wave 5 and this will complete wave A
  

We have long way to go, and what I can see is that market maker is making money with these zig zag situations, and it is okay - we are all here to make money. Question is - are you ready to make money?

Use Falcon Waves to best of your advantage, if you are doing options trading then understand time decay when buying options, therefore you may need multiple entry and exit at key level areas always drawn on the Falcon Charts.

Don't forget to follow me here for daily #Nifty ideas.

Clear chart:

18 thg 7, 2022

Đóng lệnh: dừng lỗ

Update:



Because this wave went more than 50% - then more than 70% up this can not be wave 4, This means that wave 4 and 5 internal were already formed and thus blue A was already formed which in above chart earlier was end of wave 5 (red).

Having said that now we move up in wave B, which will have 3 waves. Out of that we already had two so this entire move since morning can be the last leg up of wave B.

What is invalidation here?
High of starting point - marked in white horizontal line


How we can improve trading here?
1. Never take overnight positions in wave 4.
2. Never go against Heikinashi Candles, e.g. Heikinashi candle in 1H was green on Friday - so we should not take a counter opposite trade position for overnight unless we have reached end of waves.
3. Never trade in between waves

Now what are next steps:
It is more like wait and watch for now. I want Wave B to finish or give some clear info.


Global cues: Crypto is up, Dow Jones - Marubozu candle - indicates major trend change.

We were on right direction but wave 4 and 5 were finished.
I will be adding more concrete method to identify this for next time.

18 thg 7, 2022

Ghi chú

Updated chart with wave count for now.

18 thg 7, 2022

Ghi chú

Looks like B will finish around 16300 -16400 levels, and short around that seems to be good option, however when we take a position - we use Falcon trigger Line method, let red candle close below low of previous green candle. Then plan your trade in 1H or 30 min.