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Monday, August 17, 2015

China SSEC - Ichimoku Study - Greenback Bulls - Week 3 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)

Bulls celebrate with back to back Green weekly candles #W2.
Chikou Span steadies further, above the Price line #W1.Gap between the Senkou Span A & B  steady #W3.
Gap between the Tenkan Sen and the Kijun Sen narrows drastically #W2.


Wrap: 

Bulls back with Green on the screen once again. 

Bears like the narrowing gap between the Tenkan Sen and the Kijun Sen.


Looking Forward into this Week:



Index closing below the Kijun Sen (its called a 'weak bearish signal' as it occurred when the index was Bullish i,e. above the Kumo) still good for the Bears #W2.
Bears need to get the Chikou Span below the Price line, to maintain edge #W1. 
Gap between the Senkou Span A & B staying wide, makes a thick Kumo and a strong support for the Bulls, when they get there #W3.
Gap between the Tenkan Sen and the Kijun Sen narrow -  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 along with a big red week is what the Bears pray for.