Monday, October 19, 2015

China - SSEC - Ichimoku Study - Big Bounce - Week 3 of October 2015.

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

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

Chikou Span bounce off the support at the Kijun Sen gets bigger #W1.

Index stays in the Kumo, just below the Tenkan Sen #W2. 
Senkou Span A & B, stay crossed Bearishly #W3.


Despite the bearish Senkou Span cross, Index makes another green candle in the Kumo #W3.
Bulls continue to use the Chikou Span Support at the Kijun Sen #W1 to move up #W2.

Looking Forward into this Week:

Bearish Senoku Span Cross is active (its called a Neutral Signal, as it occurs when the Price was inside the Kumo) #W2.

Kumo gives the Index support to consolidate #W2.
Bears look to the Tenkan Sen, to bring down the index #W2.

Bears look for a resumption of the down trend from the Kumo Top #W1.
Bulls seek life above the Kumo W2 .