Monday, April 17, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - Shooting star effect - Week 3 of April 2017.

Zoom into chart .. Click 

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

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

Previous week's Shooting Star, gives the Bears, a decent red candle.

Chikou Span (white) points down towards the price line (see extreme left). 
The Tenkan Sen (blue) is the near Support.

Bulls dip below the previous 'All Time High' - after the 'Shooting Star' candle. 

Looking Forward into this Week:

Bears hope to make more downside, care of, the Shooting  Star candle of the  Previous week.
Chikou Span, preferably, needs to point away from the Price line, to keep the Bull move, trending.
Bear wish list, sees life below the March 2015 High, and a crash to sub 7070 levels.

Bulls riding the Bullish 'Tenkan Sen- Kijun Sen Cross', seek to trend up to another High.

Bears plan, to use the 'shooting star', to get the index below the Tenkan Sen and get more red on the screen.