Monday, August 28, 2017

Nifty (Asia India) - Ichimoku Weekly Study - Doji Bull - Week 5 of August 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 once again takes support at the 127% Fibonacci of the last major Hi Lo, and closes above the Tenkan Sen (Blue line - Center).
Last week's candle closes above the previous week's candle - keeping hopes for a 'Three inside up' alive.

Index hangs around the 127% Fibonacci, Keeps Bull hopes alive.

Looking Forward into this Week:

Bulls seek to use the current support to make a Three inside up pattern, and stay above the Tenkan Sen (blue - centre).

Bears look to move the index below Fibonacci 127% and prevent a Three inside up.

Bulls hold on to the Higher Low and now want a 'Three inside up'.

Bears need to dive well below the Kijun Sen (red line @9500) to rock the boat.