Monday, February 20, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Ranged - Week 4 of February 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)

Index makes the Tenkan Sen a support now.

Last 10 weeks ranged between the 61.8% and 78.6% Fibonacci retrace, of the last major High and Low.
Chikou Span (White) flat (extreme left).

Last week the index crept above the Tenkan Sen - still within the larger range marked.


Looking Forward into this Week:

Bears want to get the Chikou Span headed back towards the Kumo (extreme left).
Index seeks a range break - out of the two Fibonacci ratios marked
Bulls have the choice of the Tenkan Sen, Kijun Sen or Kumo for Support


Index in range mode, looks good to take support and trend up.
Bears seek to get index below the Tenkan Sen (Center - Weekly).