Monday, October 12, 2015

China - SSEC - Ichimoku Study - Bounce - Week 2 of October 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 bounces neatly from support at the Kijun Sen #W1.

Index stays in the Kumo #W2. 
Senkou Span A & B cross Bearishly while Price was in the Kumo #W3.


Despite the bearish Senkou Span cross, Index makes a green candle in the Kumo #W1.
Bulls also use the Chikou Span Support at the Kijun Sen #W1 to move up #W2.

Looking Forward into this Week:

Bearish Senoku Span Cross is active (its called a Neutral Signal, as it occurs when the Price was inside the Kumo) #W2.

Kumo gives the Index some support to consolidate #W2.
Bulls hope for more green with a Tenkan Sen bounce off the Senoku Span A #W2.

Bears hope for a resumption of the down trend and life below the Kumo.
Bull strategy for a comeback is to use deflections off the Kijun Sen and Senoku Span A, to 'break out' of the Kumo #W1, W2 .