Monday, July 31, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Range Doji - Week 1 of August 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 a Doji and takes Support at the Kijun Sen (weekly - red), Still in the Range marked.

Senkou Span A & B converge (right extreme of cloud).

Index makes a Doji (implying indecision) and takes support at the Kijun Sen (red line). 


Looking Forward into this Week:

Break above or below the Blue Tenkan Sen or Red Kijun Sen determines the next move.

Senkou Span A&B converging (extreme Right) - favours Bears.
A deflection of the Tenkan Sen and Kijun Sen (centre) - favours Bulls.


Bears seek to keep the index below the Tenkan Sen and get below the Kijun Sen.
Bulls after establishing support at the red line, look to trend up, clearing the resistance (blue line) and the old High as marked.