Monday, April 27, 2015

BSE Sensex - Ichimoku Study - Chikou Span Touch - Week 5 of April 2015.

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

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

Index below the Kijun Sen #W2, as bears manage a Lower High and almost an even low #W1.

Gap between the Senkou Span A & B  #W3 increases.
Gap between the Tenkan Sen & Kijun Sen decreases #W2.
Chikou Span at the Price line #W1, for the second time this year.


Bears move Index below the Kijun Sen #W2.
Bulls manage to hold the Chikou Span above the Price Line #W1

Looking Forward into this Week:

Chikou Span at current altitude set cross the Price line Bearishly, unless the Bulls manage another deflection  #W1.

Narrowing gap between the Tenkan Sen & Kijun Sen, opens possibility of bullish deflection or bearish cross #W2.


Bulls aim for life above the Tenkan Sen. 
Bears look to push towards the Kumo once again, with a Bearish Chikou Span Cross #W2.