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Monday, March 13, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - High Wave - Week 3 of March 2017.







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 makes a High Wave candle after the spike last week.

Index is at a Higher High and above all indicators.
Chikou Span (White) flattens (extreme left).

Wrap:
Index  after the take off towards the April 2015 High, makes a indecisive High Wave candle last week.

 



Looking Forward into this Week:


Bears want to see the Chikou Span headed back towards the Kumo (extreme left).
Bulls get a range break and maintain Higher High - Higher Low
.
Bears now need to bring the index below the supports marked.

Wrap:


Index post breakout mode, shows need to consolidate with a High Wave candle.
Bears hope to see the index retest (a climbing) Tenkan Sen (Center).