Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
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 below the Tenkan Sen, after getting the Chikou Span inside the Kumo.
Bulls look at continuing life above the Weekly Resistance after the massive Kumo Breakout.
Introduction / Primer to Ichimoku can be read at this link (click)
Learning from the Earlier Study: (click here for the previous post)
Index pops above the Monthly Resistance Line.
Chikou Span reverses 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 vetoes all 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 stay above 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.
