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Monday, November 23, 2015

Europe - CAC 40 - Ichimoku Study - Kijun Sen Support - Week 4 of November 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 again points to the Price line, Bulls pop out of the Kumo #W1. 
Index takes support near the Kijun Sen #W2, to make this up move.
Senoku Span A & B, steady #W3.

Wrap: 
Chikou Span turns back to the Price line - Bulls up #W2.
Bears defend the Chikou Span again #W2.


Looking Forward into this Week:


Chikou Span crossing above the Price line, is the current Bull ask #W1.
Index is now vacillating in and out of the Kumo, Bulls now have support at the Senoku Span A (4848)  #W2.
Cross of the Senoku Span A & B is the next event, that the Bears hope for #W3.

Wrap:

Bears look to get the index back in the Kumo and below the Kijun Sen #W2.
Bulls seek stay above the Kumo and get the Chikou Span clearing the Price line #W2.