Monday, April 24, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - Tenkan Sen Respite - Week 4 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, another decent red candle.

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

Bulls dip to support at the Tenkan Sen, below the previous 'All Time High' - after the 'Shooting Star' candle. 

Looking Forward into this Week:

Bulls hope that the support at the Tenkan Sen, would save them the Blushes.
Chikou Span, preferably, needs to point away from the Price line, to keep the Bull move, going.
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 support at the Tenkan Sen.

Bears plan, to get the index below the Tenkan Sen and dive to the Kijun Sen.