Monday, December 18, 2017

Nifty (Asia India) - Ichimoku Weekly Study - A Three inside up - Start of Week 3 of December 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 attempts to make the target zone 10500, with a 'Three Inside up'.

Bears manage to retain the minor wave Lower High, lower low.
Index keeps above the Blue Tenkan Sen Support line.


Wrap:
Index closes above the Blue line (Tenkan Sen), produces a Three Inside up.





Looking Forward into this Week:


Bulls seek to use the current strength to make a dash to a new All Time High.

Bears seek to make another minor wave Lower High and head below the Kijun Sen (red line).
Bulls want to make a Higher High a new ATH and maintain the major wave 'Higher High - Higher Low'.


Wrap: 
Bulls seek to use current signals, to keep above the Tenkan Sen and reach the 162% Fibonacci (10500+) as marked.

Bears hope to make another minor wave 'lower high' and target life below the red line.