Monday, October 5, 2015

Europe - CAC 40 - Ichimoku Study - Kumo Hold - Week 1 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)

Index again slips out of the Kumo during the week and closes just inside it for the week  #W2.
Chikou Span finds support exactly at the Kijun Sen - helping the Bulls survive #W1.
Gap between the Senkou Span A & B, steady #W3.
Gap between the Tenkan Sen and Kijun Sen narrow, but steady #W3.


Bears again crash the index, way below the Kumo, Bulls hold the Chikou Span exactly at the Kijun Sen and make a come back #W2.

Looking Forward into this Week:

Chikou Span is crossed  below the Price line (Its called a 'Weak Bearish cross because it occurred when the index was Bullish i,e above the Kumo) and is finding support at the Kijun Sen #W1.
Index getting above the Kumo with a Bullish Breakout, is the next Bull hope #W2.
The narrow gap between the Tenkan Sen and the Kijun Sen, good for Bulls, as a re-cross is easier #W2.


Bears give up advantage, as with 3 weekly closes inside the Kumo, bulls and bears are now evenly matched.