Monday, October 9, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Higher High & 86.6% - Start of Week 2 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 86.6% of the previous High.

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 - Headed to the Fibo 113% as marked.

Looking Forward into this Week:

Deflection (left) of the Chikou Span and Price Line gives advantage to the Bulls for now.

Failure to make a High above the May 2017 High, (Left) 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 86.6% mark to the last high.
Bulls after maintaining the Higher Low, seek to make a Higher High (above the May 2017, high).