Tuesday, October 3, 2017

Nifty (Asia India) - Ichimoku Weekly Study - Higher Low by a Whisker - Start of Week 1, October 2017.

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

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

Index slides to next support the Kijun Sen (Red line - Center) after breaking the Tenkan Sen. 

Bulls retain honors for a Higher High and Higher Low (by a whisker).
Last three weekly candles form an Three Outside Down Pattern.

Index stays above the Kijun Sen but makes 
Three Outside Down Pattern  last week.

Looking Forward into this Week:

Bulls want to restart the momentum and  reach the 162% Fibo., after the higher high and higher low.

Bears look to make a Lower Low and break the Kijun Sen (red line).

Bulls intend the climb above the Tenkan Sen and reach the 162% Fibonacci (10521).

Bears seek life below the Kijun Sen (9626) with help from the Three Outside Down Pattern,