Introduction / Primer to Ichimoku can be read at this link (click).
Bulls bounce off the Tenkan Sen the previous week, make a higher low.
Index shoots off to just under the August 2015 High.
Chikou Span (White) spikes, way above the Price line (extreme left).
Wrap:
Index after taking support at the Tenkan Sen(Blue Line), Shoots off to the Resistance line 5284.
Looking Forward into this Week:
Bears hope to hold the resistance line 5284 and make a double top,
Bulls want to maintain a Higher High - Higher Low.
Senkou Span A&B way apart - favors Bulls.
Wrap:
Hopeful Bears want a Double Top and life below the Tenkan Sen (Center).
Bulls look to trend, way above 5285 and prevent a Double Top.
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)
Bulls shoot up from support at the Tenkan Sen (Blue line).
Chikou Span (white) points up (see extreme left).
The Tenkan Sen (blue) was Support and Index makes a new high.
Wrap:
Bulls bounce from support at the Tenkan Sen, make an 'All Time High'.
Looking Forward into this Week:
Bull hope that the support at the Tenkan Sen, would save them the Blushes, pays off.
Chikou Span, preferably, needs to stay pointed away from the Price line, to keep the Bull move, going.
Bear wish list, sees life below the March 2015 High, and a crash to sub 7070 levels.
Wrap:
Bulls riding the Bullish 'Tenkan Sen- Kijun Sen Cross', want to stay above support at the Tenkan Sen (blue line).
Bears plan, to get the index below the Tenkan Sen and dive to the Kijun Sen (red line).
