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Monday, October 19, 2015

Europe - CAC 40 - Ichimoku Study - Kumo Pause - Week 3 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)


Index consolidates after the long green candle spanning the Senoku Span A and B  #W2.
Chikou Span after the massive bounce off support at the Kijun Sen, also makes a pause #W1. 
Gap between Tenkan Sen and Kijun Sen, widens as they enter the Kumo #W2.


Wrap: 

Bulls hold the highs of the previous long green week #W2.
Bears Defend the Kumo Top #W2.


Looking Forward into this Week:



Index making a Kumo Breakout, is the next Bull hope #W2.
Chikou Span is crossed  below the Price line (Its called a 'Weak Bearish cross because it occurred when the index was Bullish i.e above the Kumo) and it has found support at the Kijun Sen #W1.
Cross of the Senoku Span A & B is the next event the Bears hope for #W3.


Wrap:

Bulls still have momentum inside the Kumo, staying above the Tenkan Sen #W2.
Bears aim to send the index below the Kumo, with a Bearish Cross of the Senoku Span A & B #W2.