Monday, October 20, 2014

The Dow Jones - Ichimoku Study - Touch - Week 4 of October 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 17 Oct'14

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

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

Bears force break-down from Peak 2 - Bulls manage to hold above the Kumo #W2.

Chikou Span and Price Line Touch #W1.
Tenkan Sen and Kijun Sen Touch #W2.
Gap between  Senoku Span A-B narrows for a Touch #W3.

Wrap: Index fall continues, into the Kumo - Bulls manage to close above Kumo #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 bouncing off the Price line, is the current Bull hope #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 bounce off the Price line #W1.