Monday, July 24, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Break Range - Week 4 of July 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)

Index spans between resistance at the Tenkan Sen (weekly - blue), and Support at the Kijun Sen (weekly -  red).

Senkou Span A & B converge (right extreme of cloud).

Index dives after hitting resistance (blue line) and takes support at the Kijun Sen (red line). 


Looking Forward into this Week:

Break above or below the Blue Tenkan Sen or Red Kijun Sen determines the next move.

Senkou Span A&B converging - favours Bears.


Bears seek to keep the index below the Tenkan Sen and get below the Kijun Sen.
Bulls look to trend up, clearing the resistance (blue line) and the old High as marked.