Saturday, August 24, 2013

BSE Sensex - Ichimoku Study - Week: 19 August to 23 August - 2013 - Gravity Works

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 23 Aug'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 for the fifth week.
Tenkan Sen & Kijun Sen cross Bearishly #2.
Index meets the Flat Senoku Span #3 last week.
Chikou Span slips further down- parallel to the price line #1.
Senoku Span Cross - Bearish - on the horizon #4.

Bears reach target using Gravitational Pull produced by the Flat Senkou Span B #3 to bring Index down to this line as studied 6 weeks ago.

Looking Forward into the next Week:

Chikou Span moving down parallel to price line, in close enough proximity to Bullishly break into it #1.
Bullish Recross of the Kijun Sen and Tenkan Sen is the next Bull hope #2.
Bulls would also look at using the bounce off the Flat Senoku Span B to get out of the Kumo. #3.
Bears would want to see the Bearish Senoku Span Cross #4 and a Bearish Kumo Break out #3.

Bulls look to get out of the Kumo - Bears eye the Bearish Senoku Span Cross - #4 ...