Monday, February 2, 2015

BSE Sensex - Ichimoku Study - Breakout Pause - Week 1 of February 2015.

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

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

Index  after improving on last ATH - goes red for a pause #W2.
Senkou Span A & B - gap steady and rising #W3.
The gap between Tenkan Sen and Kijun Sen steady and the lines also climb #W2

Wrap: Index post breaks out, from the range, around the Tenkan Sen and the Kijun Sen - makes a pause 

Looking Forward into this Week:

A Bearish, Chikou Span cross with Price line, at current altitude, will need a few more months #W1.
Bears seek to get the Kijun Sen above the Tenkan Sen and take out the last Index low #W2.

Wrap: Bulls Seek new All Time Highs (ATH), whereas Bears look at moving the index below the 'Tenkan Sen - Kijun Sen' range