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Monday, July 13, 2015

Europe CAC 40 - Ichimoku Study - Kijun Sen Support - Week 3 of July 2015.







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


Learning from the Earlier Study: (This is a new study)


Chikou Span drops, within striking distance of the Price line #W1.
After slipping below the Tenkan Sen earlier, Index slips below the Kijun Sen, recovers to close the week above this line #W2.

Gap between the Senkou Span A & B, reduces last week #W3.
Gap between the Tenkan Sen and the Kijun Sen also reduces #W2.


Wrap: 

Bulls keep Index above the Kijun Sen #W2 and Chikou Span above the Price line #W1. 

Bears force price lower, but fail to keep the advantage #W2.


Looking Forward into this Week:



Bulls need to keep the Chikou Span well above the Price line, to continue their good Times #W1.
Index closing above the Kijun Sen, a strong support, good for Bulls #W2.

Gap between the Senkou Span A & B is wide, making a thick Kumo - and a strong support to come #W3.
Gap between the Tenkan Sen and the Kijun Sen reduces -  bullish deflection or bearish cross in some time #W2.



Wrap:

Index staying above the Kijun Sen #W2, and Chikou Span above the Price line #W1, good for Bulls.
Index closing below the Kijun Sen #W2,, is the Bear's ask, this week.