Diamond pattern suggesting a reversal and as political uncertainty continue to weigh on pound. I am looking to short this pair. If Price break above the upper trendline, this analysis will be invalid. Reward to risk is 10:1
Lets see if this plays out... No signs the bulls have returned with huge force.. Probably a bit longer term than most would like as they scalp their way through the steps.. Good Luck !!
The price action is fitting the majority of the description of a diamond bottom. Though, Diamond bottoms are harder to spot than a penny in the mud.
Over a monthly scale we can clearly distinguish a head and shoulder pattern, and combined with the daily view I've noticed a diamond formation near the completion of the head and shoulder, I'm now waiting for a clear confirmation to take any action. So let's wait
SPX appears to be entering a diamond top on the daily time scale. The pattern formation is average or perhaps slightly below average - I would much prefer to see multiple trendline on both sides of it and a cleaner overall diamond shape. An additional weakness is the strong buying power displayed over the last four days of trading, with prices closing far north of...
My only guess given the attraction for cryptocurrencies, is an upward breakout, but who knows if there'll be further retracement so waiting has it's importance although I'm already positioned. Around 0.618 profits have been taken, so I guess we can continue the journey to the moon ! Cheers, and don't forget to hold bitcoins ;)
If DXY stays above 99.27 then could go higher on next candle (April 25th); Keep your eyes on EURUSD.. Cheers, Keops
I'm testing this new diamond setup on lower timeframe, for study only.. Cheers, Keops
This is a 9 day gold chart using a new experimental geo setup. If gold passes 1281.54 then next resistance zone is 1298 - 1308 level Cheers, Keops
LTCUSD may be forming a diamond top on the 4hr chart. A break below 8.75 could see 7.75 before bouncing up past 10. Good luck!
~ Hourly diamond formation on the german DAX. The daily trend is upwards, climbing to the top of a canal. I will wait for the breakout though as any good trader would, and would indicatively state 11960 as a target if bull breakout, and 11540 if bearish breakout. Cheers ;)
Hi Guys, After few days I identified a diamond pattern on EURUSD. I m pretty sure the eurusd goes up soon in the next week or days. My stop loss -> 1.055 and first target is 1.080.
Diamond pattern on daily chart. The support was broken and price even made a healthy pullback. Now anticipating the weakness into $62.80.
We got triangle pattern but the market changes their mind they make flag , may be diamond pattern. i m still keeping my sell position stop over than 1.12800.