Monday, February 9, 2015

BSE Sensex - Ichimoku Study - Breakout Paused - Week 2 of February 2015.

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

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

Index  goes red for the second week, giving the Bears hope of reaching the Tenkan Sen #W2.
Senkou Span A & B - gap steady #W3.
The gap between Tenkan Sen and Kijun Sen narrows #W2

Wrap: Index heads back towards the range (around the Tenkan Sen and the Kijun Sen) - with another red week 

Looking Forward into this Week:

A Bearish, Chikou Span cross with Price line, at current altitude, will need a few more months #W1.
Tenkan Sen and Kijun Sen set to cross bearishly if current rate of fall, continues for the next few weeks #W2.

Wrap: Bulls look to get back to the All Time Highs (ATH), whereas Bears look at moving the index below the 'Tenkan Sen - Kijun Sen' range