#Nifty Falcon Wave Counts

11 ส.ค. 2022

Recently we had to re-look at what is happening with Falcon Waves. Even though we use two more tools along with Falocn Waves (always) that helps, Heikinashi Candles (as we do not trade against the trend) and Falcon trigger line, however, counts can not be wrong too many times, and we were on the wrong side of the count.

Upon deep analysis, here is a new count, where ABCDE pattern of Falcon Wave is in formation. Out of that Wave D - 5 waves finsihed and we are in wave E - which can be tricky.

Today because DXY went down yesterday - Nifty went up, but DXY has found its temp bottom. This means that Nifty should fall? Perhaps yes.

We have finished 5 waves up, and if we do not get pull back then there is something wrong again with entire process.



DXY chart found temp bottom here on Daily Chart:


We can find some downard pressure now, but this is a good learning for all of us.
One good way is to follow the trend, not a single candle close below previous candle - falcon trigger line method that can help you identify the way forward.