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).

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.

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).