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Monday, January 23, 2017

CAC 40 - Ichimoku Weekly Study - The Dragon Fly effect - Week 4 of January 2017.






Zoom into chart .. Click 


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



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

Bears point the index towards the Tenkan Sen as the Dragon Fly Doji gives them a red week - see center.
Chikou Span (White Indicator) points down (extreme left).

Wrap:
Approaching previous Highs, Index goes red after the Dragon fly Doji's  effect.

 



Looking Forward into this Week:


Bears want to get the Chikou Span headed back towards the Kumo (extreme left).
Bulls having achieved a higher high (weekly close) now look to go green again.
Bulls may have to look for support at the Tenkan Sen.

 
Wrap:
 
Bulls in pause mode, still look to take out old Highs.
Bears after the red on the screen, seek to point the index towards the Tenkan Sen (Blue Indicator - Center - Weekly Support).