Monday, October 27, 2014

The Dow Jones - Ichimoku Study - Touch & Go - Week 5 of October 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 24 Oct'14

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

Learning from the earlier Study: (click here for the post)

Bulls kick off from the Kumo to get above the Tenkan Sen and Kijun Sen #W2.

Bulls also get the Chikou Span bounce #W1.
Tenkan Sen and Kijun Sen still in Touch #W2.
Senoku Span A & B gap is narrow and steady #W3.

Wrap: Bulls after a close above Kumo last week get back in the green #W2.

Looking Forward into this Week:

Bears aim for a close inside the Kumo #W2.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, is now in progress #W2.
Chikou Span staying above the Price line, is the current Bull ask #W1.
Bearish cross of the Senoku Span A-B is the Bull ask #W3.

Wrap: Bears seek to close inside the Kumo #W2 - Bulls hope the Chikou Span would stay above the Price line #W1.