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Saturday, July 16, 2016

Brent Crude Oil - Ichimoku Weekly Study - Kumo Trap - Week 3 of July 2016.







Introduction / Primer to Ichimoku can be read at this link (click).


Learning from the Earlier Study: (click here for the previous post)

Chikou Span takes off from support at the Kijun Sen #W1.
Index goes green, however stays trapped in the Kumo #W2.
Senoku Spans A and B, are crossed Bullishly #W3.

Wrap:
Bulls use the Senoku Span Cross #W3, and support to get green inside the 'Kumo' #W2.




Looking Forward into this Week:


Bulls now look forward to the Price breaking out above the Kumo #W2.
Keeping the the Chikou Span above the Kijun Sen, and the Senoku Span 'A' above the Senoku Span 'B' is the bull task from here #W3.
Bears need to use the Kumo as resistance zone and get a move below it #W2.

Wrap:
A Kumo break out is what the Bulls want to enforce #W2, Bears prefer the index yo-yoing down the Kumo.