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Monday, January 19, 2015

BSE Sensex - Ichimoku Study - Tenkan Sen Holds - Week 4 of January 2015.








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


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

Index  after breaking out above the Tenkan Sen, moves above the previous high #W2.
Senkou Span A & B - gap increases #W3.
The gap between Tenkan Sen and Kijun Sen redices #W2


Wrap: Index edges up, out of the current range around the Tenkan Sen and the Kijun Sen
#W2



Looking Forward into this Week:


Senkou Span 'A & B' converging will be bad for the Bulls #W3.
A Bearish, Chikou Span cross with Price line, at current altitude, will need a few more weeks #W1.
Bears seek to get the Kijun Sen above the Tenkan Sen and take out the last Index low #W2.


Wrap: Bulls Seek life above the last All Time High, whereas Bears look at moving the index below the current 'Tenkan Sen - Kijun Sen' range
#W2.