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Monday, August 10, 2015

China SSEC - Ichimoku Study - Holding Lows - Week 2 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 steadies above the Price line #W1.
Bulls find some life and hold index above last month's low #W2.

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


Wrap: 

After the Bearish Kijun Sen Cross, Bears fail to take out the previous low, Bulls get a green week after defending last month's low.



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) works 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 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 along with close below last month's low is what the Bears want.