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Monday, October 12, 2015

Europe - CAC 40 - Ichimoku Study - Kumo Range - 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)


Index makes a long green candle spanning the Senoku Span A and B  #W2.
Chikou Span makes a massive bounce off support at the Kijun Sen #W1. 
Tenkan Sen and Kijun Sen, at Senkou Span A #W2.


Wrap: 

Bulls use the Chikou Span support at the Kijun Sen to get a long green week #W1, #W2.
Bears defense up, at the Senoku Span A and Tenkan Sen #W2.


Looking Forward into this Week:



Index getting above the Kumo with a Bullish 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 its found support at the Kijun Sen #W1.
The Tenkan Sen and the Kijun Sen, deflecting off the Senoku Span A is the next Bull ask #W2.


Wrap:

Bulls have momentum inside the Kumo, with the strong up move #W2.
Bears hope to block the way out of the Kumo, with a defense of the Tenkan Sen and Senoku Span A #W2.