Monday, June 8, 2015

The Dow Jones - Ichimoku Study - Tenkan Sen Folds - Week 2 of June 2015.

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

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

Index falls below the Tenkan Sen Support #W2.
Gap between the Tenkan Sen and Kijun Sen steady #W2.
Senoku Span A & B, gap steady #W3.
Chikou Span at the Price line #W1.

Wrap: Index takes support at the Kijun Sen, Chikou span runs into the Price line #W1.

Looking Forward into this Week:

Bears eye the dwindling Thin Kumo #W2 (Study Links herehere or elsewhere) for an opportunity to dive into the Kumo.
Cross of Tenkan Sen, to below the Kijun Sen, is next on Bear wishlist #W2.
Chikou Span is now touching the Price line - set for a Bullish deflection or Bearish Cross at the Price line #W1.

Wrap: Bulls look to stay above the Kijun Sen, Bears look for a Bearish Cross of the Chikou Span and the Price line #W2.