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Monday, May 4, 2015

BSE Sensex - Ichimoku Study - Chikou Span Cross?! - Week 1 of May 2015.







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


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


Index below the Kijun Sen #W2.

Gap between the Senkou Span A & B  #W3 decreases #W3.
Gap between the Tenkan Sen & Kijun Sen decreases #W2.
Chikou Span into the Price line #W1, looks to cross Bearishly.


Wrap: 

Bears move Index below the Kijun Sen and are poised to manage a Bearish Chikou Span Cross #W1.
Bulls take solace that, all the 3 Red Crosses on the screen are 'Weak' as they occur above the Kumo, i.e. in Bull territory #W1.



Looking Forward into this Week:


Chikou Span is into the Price line, set to cross in Bearishly #W1.

Narrowing gap between the Tenkan Sen & Kijun Sen, makes a bullish deflection or bearish cross, imminent #W2.
Bull hope rests on staying above the Kumo #W2.



Wrap:

Bulls fight to stay above the Kumo, in Bull territory, as all the Red Crosses on the Screen are deemed 'weak'. 
Bears look to push into the Kumo, with a Bearish Tenkan Sen & Kijun Sen Cross #W2.