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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 continued its retreat from the target zone 10500.
Bulls retain Higher High and Higher Low.
Perfect Support, at the Tenkan Sen, sends the index above the lows of the week.
Wrap:
Index retreats near target zone, the Blue line (Tenkan Sen), was perfect Support.
Looking Forward into this Week:
Bulls want to use the take off from support, to reach the 162% Fibonacci, after the higher high and higher low.
Bears seek to make a Lower Low and head below the Kijun Sen (red line).
Wrap:
Bulls intend to keep above the Tenkan Sen and reach the 162% Fibonacci (10500+) as marked
Bears hope to build on the two red candles and make a lower low..
