Monday, August 14, 2017

Nifty (Asia India) - Ichimoku Weekly Study - Below the Blue - Week 3 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 after the High Wave (indecision) at the 141% Fibonacci of the last major Hi Lo, dives below the Tenkan Sen (Blue line- Center).
Bulls close near support at the 127% Fibonacci and above the Kijun Sen (Red - centre).

Wrap:
Bulls find support around the 127% Fibonacci, Bears break index below the Tenkan Sen, after a 30 week run, above it.





Looking Forward into this Week:


Bulls seek to use the current support to get back above the Tenkan Sen (blue - centre).

Bears look to continue withe the momentum, pushing for a move of the index below Fibo 127%.

Wrap: 
Bulls slipping below the 'Tenkan Sen', after a 30 week, run above it,  seek to return to trend, by making this a Higher Low.

Bears need to continue weekly below the Tenkan Sen (blue line @9797) to stay in the game.








Brent Crude Oil - Ichimoku Weekly Study - Star - Week 3 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)

Last Three candles show a Doji Star.
Index blocked by the Kumo Top and the 61.8% Fibonacci as marked above (centre).
Senkou Span A and B, stay crossed Bearishly (right extreme). 
Chikou Span between the Blue and Red lines and below the Price line (left).

Wrap:   
Index makes a Doji Star, right at the Kumo Top.




Looking Forward into this Week:

Chikou Span getting above the Price line is now the Bull hope (left).
Clearing the 61.8% and heading to the 127% (centre) is the next Bull Need.
Senkou Span A&B, Bearish 'cross', with a Doji Star at 61.8% and a High wave candle (indecision) helps Bears.



Wrap:
 
Hopeful Bulls, look to hold the large wave 'Higher Low' and  make a Smaller wave 'Higher High'.
Bears seek a fall to the Kumo bottom, after the Bearish Senkou Span A & B cross (right) with the Doji Star at 61.8% ($53) last week.