Introduction / Primer to Ichimoku can be read at this link (click).
Index stays above the Tenkan Sen (Blue) and Kijun Sen (red) and halts at channel resistance.
Tenkan Sen (Blue) and Kijun Sen (red line) ready for a cross or deflection.
Chikou Span, heads for the Price Line (left).
Wrap:
Index above all the signals on the screen - Bulls manage a Higher High.
Looking Forward into this Week:
Deflecting (left) of the Chikou Span and Price Line gives advantage to the Bulls.
Bears mow hope for a retest of the Kumo.
Tenkan Sen (Blue) and Kijun Sen (red line) crossing - good for Bulls.
Wrap:
Bears seek to get the index below the Kijun Sen (red), want the Chikou Span to point towards the Price line.
Bulls after making a Higher High, sek the next Fibonacci level.
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 clears the BT Channel Resistance (see last week's post) and heads for the target 10500+.
Bulls retain honors for a Higher High and Higher Low.
Ichimoku Signals all move up in concert.
Wrap:
Index takes off above the Tenkan Sen and is near target the Fibonacci 162% (of last major Hi Lo) marked above.
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 (see last week's post) had different probabilities for Bulls and Bears - it favored the Bulls - Bears expect a throw back.
Wrap:
Bulls intend to keep above the Tenkan Sen and reach the 162% Fibonacci (10500+).
Bears seek life below the Kijun Sen with help from the Resistance line.
