Saturday, July 27, 2013

BSE Sensex - Ichimoku Study - Week: 22 July to 26 July: 2013 - Bears use Gravity

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 26 July'13

Introduction / Primer to Ichimoku, can be read at this link (click). 

Learning from the Past Week: (click here for previous post)

Flat Kumo #3 rewards the Bears.
Current rate of Climb causes the Gap between the Tenkan Sen & Kijun Sen to narrow for a possible bearish cross #2.
Index keeps above the Tenkan Sen  #2.
Bears move the Chikou Span below the price line #1.

Bearish Cross of the Chikou Span and Price Line happens #1.

Looking Forward into the next Week:

Bulls can easily move the Chikou Span above the Price Line if downward momentum slacks a wee bit #1.
Gap between the Tenkan Sen - Kijun Sen narrows - Bearish Cross on, if rate of Price Climb does not increase #2.
Flat Senoku Span B can attract the Price line towards it. #3.

Bulls look to nudge the Chikou Span above the Price line - Bears  place their hope on Gravity and the Flat Kumo #3 ...