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Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Bears fail to negotiate the resistance zone, Index falls below the Tenkan Sen..
Index below the 61.8% Fibonacci retrace of the last major High & Low.
Chikou Span (white) touches the price line (see extreme left).
Wrap:
Index below the Tenkan Sen after it fails to clear resistance zone - last 4 candles indicate 'Deliberation' and Fall.
Looking Forward into this Week:
Bears would want to keep Index below the Tenkan Sen(blue) and get the Chikou Span below the Price line.
Bulls, now just above the Kijun Sen - hope to take off, to above the Tenkan Sen.
With a Higher Low @ Kijun Sen, Bulls look to manage a Higher High above the recent resistance zone.
Wrap:
Deliberating Bulls fail to make a clear breakout from resistance zone..
Bears wish to crack the Kijun sen and send the index back towards the Kumo.
