Saturday, March 10, 2018

Nifty (Asia India) - Ichimoku Weekly Study - Higher Low & the 179% Fibonacci - Start of Week 2 of February 2018
chart > 

Introduction & Primer to Ichimoku can be read at this link > click.


Index breaks Support at Channel Bottom, closes above the 141% Fibonacci (of the 2015 low to 2016 high).
Index closes below the Red Kijun Sen Support (10434), but maintains a Higher Low (above 10033)


Bulls need to get above the Kijun Sen (10434 - red line) to take the fight to the next Fibonacci Level (179%)
Bears want to force a lower low, and prevent a 'Pullback' breaking into the channel bottom.


Bulls now want to maintain the 'Higher Low' and strike out to the 179% Fibonacci.
Bears, seek to keep up the momentum and get below 10033.