Monday, May 22, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Return @ 113% - Week 4 of May 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 retraces from the Fibonacci 113% of the Last major 'High Low', to the August 2015 High (Support).

Chikou Span (White) stays, way above the Price line (extreme left) - but dips.

Index falls after the Hangman candle. Bulls defend the August 2015 High. 


Looking Forward into this Week:

Bears hope to get below the Tenkan Sen and close the Gap in the candles.
Bulls seek to maintain the current Higher High - Higher Low.

Senkou Span A&B way apart - favors Bulls.


Hopeful Bears want a Double Top and life below the Tenkan Sen (Center).
Bulls look to trend along, all the way to the 162% Fibonacci retrace..