Monday, January 16, 2017

CAC 40 - Ichimoku Weekly Study - Fly Dragon - Week 3 of January 2017.

Zoom into chart .. Click 

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

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

Kumo Breakout continues to reward Bulls, as it heads towards the marked Old Highs.
Last week produced a Doji indicating indecision (google 'Dragon Fly Doji)
Chikou Span (White Indicator) goes flat (extreme left).

Approaching previous Highs, Index makes a Doji indicating indecision.

Looking Forward into this Week:

Bears want to get the Chikou Span headed back towards the Kumo (extreme left).
Bulls having achieved a higher high (weekly close) now look to keep the momentum going.
Index shows indecision as it nears the Feb 2015 High.

Bulls in pause mode, still look to take out old Highs.
Bears hope for red on the screen after the Doji, and seek to point the index towards the Tenkan Sen (Blue Indicator).