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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)
Index takes off above the Tenkan Sen (blue line), and reaches BT Channel Resistance.
Bulls retain honors for a Higher High and Higher Low (by a whisker).
The Index returns from the Top Channel pf the Broadening Top (BT) with a red candle.
Wrap:
Index takes off above the Tenkan Sen and reaches the BT Channel Resistance Line.
Looking Forward into this Week:
Bulls want to keep up the momentum and reach the 162% Fibonacci, after the higher high and higher low.
Bears need to make a Lower Low and break the Kijun Sen (red line).
The Broadening Top Pattern has different probabilities for Bulls and Bears.
Wrap:
Bulls intend to keep above the Tenkan Sen and reach the 162% Fibonacci (10521).
Bears seek life below the Kijun Sen with help from the Resistance line.
