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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 attempts to make the target zone 10500, with a 'Three Inside up'.
Bears manage to retain the minor wave Lower High, lower low.
Index keeps above the Blue Tenkan Sen Support line.
Wrap:
Index closes above the Blue line (Tenkan Sen), produces a Three Inside up.
Looking Forward into this Week:
Bulls seek to use the current strength to make a dash to a new All Time High.
Bears seek to make another minor wave Lower High and head below the Kijun Sen (red line).
Bulls want to make a Higher High a new ATH and maintain the major wave 'Higher High - Higher Low'.
Wrap:
Bulls seek to use current signals, to keep above the Tenkan Sen and reach the 162% Fibonacci (10500+) as marked.
Bears hope to make another minor wave 'lower high' and target life below the red line.
