 |
| DJI 30 - End of Week Chart - 23 March 2012 |
Quick Reference :
The Tenkan Sen - red line,
The Kijun Sen - blue line,
The Chikou Span - purple line,
The Senkou Span A - black line,
The Senkou Span B - grey line,
The Kumo - grey shaded area.
Recent Signals : Last week (click here) and Previous Week (click here)
We concluded our study last week, with the note that the Flat Kumo (Senkou Span B), should start attracting the Price downwards, in the weeks to come. We used the the signals marked 'F' and 'G'. Incidentally last week's candle is red.
Another input is that the Kijun Sen (blue) has gone flat for the last two candles (see H above). As one would have studied in the reading material on Ichimoku, this flat nature implies lack of momentum, flat trend and state of equilibrium which also draws the price to itself (like the Flat Kumo).
Price breaching the Tenkan Sen (red) is the first indication, we would get of a correction. This does not look like happening, anytime too soon.
Recent Signals : Last week (click here) and Previous Week (click here)
We concluded our study last week, with the note that the Flat Kumo (Senkou Span B), should start attracting the Price downwards, in the weeks to come. We used the the signals marked 'F' and 'G'. Incidentally last week's candle is red.
Another input is that the Kijun Sen (blue) has gone flat for the last two candles (see H above). As one would have studied in the reading material on Ichimoku, this flat nature implies lack of momentum, flat trend and state of equilibrium which also draws the price to itself (like the Flat Kumo).
Price breaching the Tenkan Sen (red) is the first indication, we would get of a correction. This does not look like happening, anytime too soon.
