Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Chikou Span turns down below the Price line and gets support around the Kijun Sen #W1.
Bull attempt to bounce out out the Kumo thwarted and index closes in the Kumo again #W2.
Gap between the Senkou Span A & B, narrows further, to touch point #W3.
Gap between the Senkou Span A & B, narrows further, to touch point #W3.
Wrap:
After the bearish Chikou Span cross, Index floats into the Kumo #W1.
Bulls use the Chikou Span Support at the Kijun Sen #W1 to make a green week #W2.
Looking Forward into this Week:
Bearish Kumo Breakout happens #W2.
After the Bearish Chikou Span Cross (its called a 'weak bearish signal' as it occurred when the index was Bullish i,e. above the Kumo) support at the Kijun Sen raises Bull hope of a comeback #W1.
Gap between the Senkou Span A & B at #W3, is near closing - a Bullish Deflection or Bearish Cross imminent.
Wrap:
A Bearish Senoku Span cross & life inside the Kumo #W3, are what the Bears need, to keep their advantage.
Getting back above the Kumo #W2, with support for the Chikou Span at the Kijun Sen #W1, is the Bull strategy for a comeback.
