Learning from last Week: (click here for the previous post) Patterns: The Index again stops atthe Middle Tyne of the Daily Fork for consolidation #Dailychart.
Support & Resistance: Support was around the daily 13 MA and Resistance was at the middle Tyne of the Day fork #Dailychart.
Moving Averages: The critical EMA5, is bullishly above the MA13, on all three charts above.
Indicators:
The RSI near the oversold #WeekChart.
Wrap: Index consolidates another weekat the Day fork #Dailychart.
Looking forward into this Week:
Patterns: Shooting Star (Google 'Shooting Star candlestick') on the Medium Term Screen indicates possible reversal#WeeklyChart. Support & Resistance: Middle
Tyne of the Week Fork, is now support and the Top Tyne of the Month Fork is again resistance. Moving Averages: 13 MA on the Day chart, is the mark, that the Bear want to get below, this week #DailyChart.
Indicators: STS stays in the over sold #DayChart.
Wrap: Bears want to use the weekly Shooting Star and the mid fork resistance on the Daily Chart, for a reversal #Dailychart. Bulls look to touch the Long term Channel top and a make a new ATH (2292) #MonthChart.
Kumo Breakout continues to reward Bulls, but in moderation. All signals are currently Bullish. Chikou Span flattens (extreme left)
Wrap: Kumo Breakout gives the Bulls more green - pace moderates.
Looking Forward into this Week:
Bears want to get the Chikou Span headed back towards the Kumo (extreme left). Longs having achieved a higher high (weekly close) now look to keep the momentum going. Bears look to get back to the resistance levels (Weekly and Monthly).
Wrap: Bears seek to point the index towards the Tenkan Sen (Weekly resistance). Bulls look for more green after the massive Kumo Breakout followed by a pause.
Bears manage to get the Index below the Monthly Support Line. Chikou Spanstill has a bearish cross with the Price line(see extreme left) . Chikou Span in the congestion zone for now.
Wrap; Index yoyos betweenthe Monthly Support and Resistance lines.
Looking Forward into this Week:
Bears want to keep the index below the Kijun Sen - Weekly resistance - and aim for the Kumo. Chikou Span - in the congestion zone - could hug the Price-line, tracing its steep up move. Tenkan Sen Cross is the next Bull ask. Wrap: Bears want more red on the screen and life in the Kumo. Bulls look to take off from the Monthly Support line and restart the Up-move.
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post) Index once again closes below Monthly Resistance with a Doji indicating indecision. Monthly Resistance Line (Kijun Sen on Month Chart) was again the zone of resistance. Chikou Span, stays above the Kumo (see extreme left). Wrap: Chikou Span above the Kumo, Index held back by the Monthly Resistance. Looking Forward into this Week: Bulls want to stay above the Kumo and take out the Monthly resistance (Center). Bears want to see - the index below the Weekly resistance and the Chikou Span into the Kumo. Higher Highs and Higher Lows is the way forward for Bulls - keeping above the Kumo. Wrap: Bears want the index below the Tenkan Sen (Weekly resistance) and Chikou Span inside the Kumo. Bulls after the consolidation, eye life above the Monthly Resistance.
Learning from last Week: (click here for the previous post) Patterns: The Index stops atthe Middle Tyne of the Daily Fork for some consolidation #Dailychart.
Support & Resistance: Support was around the daily 5 EMA and Resistance was at the middle Tyne of the Day fork #Dailychart.
Moving Averages: The critical EMA5, is bullishly above the MA13, on all three charts above.
Indicators:
The RSI near the oversold #WeekChart.
Wrap: Index consolidates with a long Doji #Weeklychart.
Looking forward into this Week:
Patterns: Long Doji (Google 'Doji candlestick') on the Medium Term Screen indicates consolidation and indecision#WeeklyChart.
Support & Resistance: Middle
Tyne of the Week Fork, is now support and the Top Tyne of the Month Fork is again resistance. Moving Averages: 5 EMA on the Day chart, is the mark, that the Bear want to get below, again this week #DailyChart.
Indicators: STS stays in the over sold #DayChart.
Wrap: Bears want to use the weekly Doji and the mid fork resistance on the Daily Chart, for a reversal #Dailychart. Bulls look to touch the Long term Channel top and a make a new ATH (2292) #MonthChart.
Kumo Breakout continues to reward Bulls. All signals are currently Bullish. Chikou Span beyond the Kumo top (extreme left)
Wrap: Kumo Breakoutgives the Bulls more green.
Looking Forward into this Week: Bears want to get the Chikou Span headed back towards the Kumo (extreme left). Longs having achieved a higher high (weekly close) now look to keep the momentum going. Bears look to get back to the resistance levels (Weekly and Monthly).
Wrap: Bears seek to point the index towards the Tenkan Sen (Weekly resistance). Bulls look for more greenafter the massive Kumo Breakout.
Index closes below the Monthly Resistance Line. Chikou Spanreverses and makes a bearish cross with the Price line(see extreme left) . Chikou Span back in the congestion zone for now.
Wrap; Index slips below the Monthly Resistance line even as the Chikou Span plays 'Hide and Seek' with the Price line(see extreme left).
Looking Forward into this Week:
Bears want to keep the index below the Kijun Sen - Weekly resistance - and aim for the Kumo. Chikou Span - in the congestion zone - should stayabove the price line (extreme left) for Bulls to continue up. Tenkan Sen Cross is the next Bull ask. Wrap: Bears want more red on the screen and life below the Monthy Support. Bulls look to clear the Monthly resistance again and restart the Up-move.
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post) Index again closes below Monthly Resistance with a High Wave indicating indecision. Monthly Resistance Line (Kijun Sen on Month Chart) was again the zone of resistance. Chikou Span, stays above the Kumo (see extreme left). Wrap: Chikou Span above the Kumo, Index held back by the Monthly Resistance. Looking Forward into this Week: Bulls want to stay above the Kumo and take out the Monthly resistance (Center). Bears want to see - the index below the Weekly resistance and the Chikou Span into the Kumo. Higher Highs and Higher Lows is the way forward for Bulls - keeping above the Kumo. Wrap: Bears want the index below the Tenkan Sen (Weekly resistance) and Chikou Span inside the Kumo. Bulls need life above the Monthly Resistance.
Learning from last Week: (click here for the previous post) Patterns: The Index takes off from the Middle Tyne of the Weekly Fork for yet another All Time High #Weeklychart.
Support & Resistance: Support was around the weekly 5 EMA and Resistance was at the middle Tyne of the Day fork #Dailychart.
Moving Averages: The critical EMA5, is bullishly above the MA13, on all three charts above.
Indicators:
The RSI shoots from 50% to the oversold #WeekChart.
Wrap: Bulls make yet another ATHand Higher high.
Looking forward into this Week:
Patterns: Bulls seek the top Tyne of the Monthfork and a Higher ATH #MonthlyChart.
Support & Resistance: Middle
Tyne of the Week Fork, is now support and the Top Tyne of the Month Fork is resistance. Moving Averages: 5 EMA on the Day chart, is the mark, that the Bear want to get below, sometime this week #DailyChart.
Indicators: STS is in the over sold #DayChart.
Wrap: Bears want to use the mid fork resistance on the Daily Chart and get some traction #Dailychart. Bulls seek seek the Long term Channel top and a new ATH (2292) #MonthChart.
Monthly resistance line demolished as a massive Kumo Breakout happens. All signals are currently Bullish. Chikou Span hovering near the Kumo top (extreme left) Wrap: Monthly Resistance line demolished as Bulls get their Kumo Breakout. Looking Forward into this Week: Bears want to get the Chikou Span back inside the Kumo (extreme left).
Longs having achieved a higher high (weekly close) now look to keep the momentum going. Bulls now look to keep above the Tenkan Sen and not allow the Bears any leeway. Wrap: Bears look to get belowthe Tenkan Sen, after getting the Chikou Span inside the Kumo. Bullslook at continuing life above the Weekly Resistance after the massive Kumo Breakout.
Index pops above the Monthly Resistance Line. Chikou Spanreverses and makes a bullish cross with the Price line('strong signal' as the Bulls managed it, when the index was above the Kumo - see extreme left) . Chikou Span clears the congestion zone for now.
Wrap; One Strong Bullish Signal vetoesall the Weak bearish signals, index above Monthly Resistance line.
Looking Forward into this Week:
Bears want to keep the index below the Kijun Sen - Weekly resistance - and aim for the Kumo. Chikou Span - above congestion zone - should stayabove the price line (extreme left) for Bulls to continue up. Tenkan Sen Cross is the next Bull ask. Wrap: Bears want red on the screen and life below the Kijun Sen (Weekly resistance) Bulls look to clear the weekly resistance (Kijun Sen) to make this Bull trot viable.
