Monday, November 25, 2013

BSE Sensex - Ichimoku Study - Tenkan Sen Play - Week 4 of November 2013.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 22 Nov'13

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

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

Bears take advantage with a red candle following the Engulfing action on the Bull show of the week before #W2.
Bulls slip below the Tenkan Sen #W2.
Chikou Span touches the Price Line  #W1.

Wrap: Bear fight back gets them below the Tenkan Sen.

Looking Forward into the next Week:

Chikou Span moves towards the Price Line - deflection or cross imminent #W1.
Bulls need to get above the Tenkan Sen to get back in the game #W2.

Wrap: Bulls would aim for a deflection of the Chikou Span and Price line for another go at the ATH - Bears look to stay below the Tenkan Sen #W2.