Monday, October 16, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Bulls Falter? - Start of Week 3 of October 2017.

Zoom into chart .. 

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

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

Index stays above the Tenkan Sen (Blue) and Kijun Sen (red) and reaches channel resistance.

Tenkan Sen (Blue) and Kijun Sen (red line) close in for a cross or deflection.
Chikou Span, stays above the Price Line (left).

Index above all the signals on the screen - locked inside a 'Broadening Top Pattern'  as marked.

Looking Forward into this Week:

Deflecting (left) of the Chikou Span and Price Line gives advantage to the Bulls.

Failure to make a High above the May 2017 High, is Bear Hope.
Tenkan Sen (Blue) and Kijun Sen (red line) deflecting - good for Bears.


Bears seek to get the index below the Tenkan Sen (blue), looking for a failure at the Broadening Top.
Bulls after maintaining the Higher Low, seek to make a Higher High (above the May 2017, high).