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Monday, August 3, 2015

China SSEC - Ichimoku Study - Bears and Honey - Week 1 of August 2015.







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


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

Chikou Span plunges towards the Price line #W1.
Bears get their honey as index drops down, after resistance at the Kijun Sen #W2.

Gap between the Senkou Span A & B  reduces marginally #W3.
Gap between the Tenkan Sen and the Kijun Sen steady #W2.


Wrap: 

Bears defend Kijun Sen and send index towards last low #W2. 

Bulls lose the plot but hold above the last low #W2.


Looking Forward into this Week:



Bears need to get the Chikou Span below the Price line, to maintain advantage #W1.
Index closing below the Kijun Sen, works well for Bears #W2.

Gap between the Senkou Span A & B staying wide, makes a thick Kumo and a strong support for the Bulls, in the weeks to come #W3.
Gap between the Tenkan Sen and the Kijun Sen steady -  bullish deflection or bearish cross still on #W2.



Wrap:

Getting back above the Tenkan Sen and Kijun Sen #W2, priority for Bulls.
Bearish cross of the Tenkan Sen and Kijun Sen #W2, and a lower low, is the next Bear hope.