Learning from last Week: (click here for the previous post)
Patterns:
'Evening Star' Pattern possible, based on the 'Open' of the September candle #MonthChart1.
Support & Resistance:
Middle Tyne of the Fork on the Weekly chart was the support #WeekChart1. Index failed to make a bullish cross of the 5 EMA and 13 MA on the day chart #DayChart1.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all except the Day Chart #DayChart1.
Indicators:
The STS dips from the oversold #DayChart2.
Wrap:
Bulls hold our Support line #WeekChart1. Bears sneak in, the possibility of an 'Evening Star' on the Month chart #MonthChart1.
Looking forward into this Week:
Patterns:
'Evening Star' Pattern (Study Links here, here or elsewhere) can trigger, if September close is below 2171 #MonthChart1.
Support & Resistance:
Middle Tyne of the Fork on the Weekly chart is support #WeekChart1. Middle Tyne of the Fork on the Daily chart is resistance #DayChart1.
Moving Averages:
The EMA 5, poised to cross bullishly above the MA 13, (Example: a close above 2184 on Tuesday should do it) #DayChart1.
Indicators:
TSI near resistance at the 74% Fibonacci mark #MonthChart2.
Wrap:
Bulls, fail to prevent red on the August Candle. Bears get an 'Evening Star' going #MonthChart1.
Learning from last Week: (click here for the previous post)
Patterns:
Index recovers, as Bulls pull up, and open way above August Candle, to preclude an 'Evening star' #WeekChart1.
Support & Resistance:
Index continues its take off from support, well above the 50 SMA #DayChart1, and cracks through the Bottom Tyne of the Day Fork #DayChart1.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.
Indicators:
The STC clinbs, well above the 76% Fibonacci retrace #MonthChart2.
Wrap:
Index takes off from previous week's support (50 MA) and breaks back into the Fork on the Day Screen #DayChart1.
Looking forward into this Week:
Patterns:
Index maintains green candles for the past 6 months. Bulls on Lucky 7 #MonthChart1.
Support & Resistance:
Bottom Tyne of the Fork on the Day chart is the support to maintain #DayChart1. The 50 SMA #DayChart1, is fallback support. The ATH (9119) is resistance.
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen #DayChart1.
Indicators:
The MACD and its histogram, are now around zero #Daychart2.
Wrap:
Bulls, on the 7th straight Green Month #MonthChart1. Bears look for change, aim for life below the 50 SMA #DayChart1.
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Bears get another red week as the index throwback continues, support was at the Kijun Sen #W2.
Chikou Span ticks down, from below the Kumo #W1,
Bulls manage to close above the Tenkan Sen and stay in the spot light #W2.
Wrap:
Throwback takes support exactly at the Kijun Sen and closes the week, just above the Tenkan Sen #W2.
Looking Forward into this Week:
Bulls see the index getting to above the Kumo and clearing the last high #W2.
Bears push to go lower, down Kumo #W2.
Chikou Span seeks the Price line #W1.
Tenkan Sen is the support that the Bulls need to stay above, to remain relevant #W2.
Wrap:
Bears aim to get below the Tenkan Sen, going down the Kumo #W2.
Bulls seek a life above the Kumo and higher highs #W2.
