Nifty (Asia India) - Ichimoku Weekly Study - Triangle breakout Targets and Fibonacci resistances - Week 3 of August 2018

Introduction & Primer to Ichimoku can be read at this link > click.

 

PAST

Index breaks upwards from the exact tip of the Triangle (link) and makes new Highs.
High wave candle forms last week, even as Bulls seek to make the 'Triangle Break out target' (link) - calculated to be about Fibonacci 127% to Fibonacci 141% above. 

NEXT

Bulls seek to beat the Triangle Breakout Target.

Bears seek red after the High Wave candle (link).

WRAP

Bulls after the break out from the Triangle Pattern want to trend to the Fibonacci 141% next.

Bears, seek a Double Top and some red on the screen after last week's 'High Wave' candle.