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simtrader19a
Jun 8, 2023 2:13 AM

Nice diamond Pattern forming Short

Australian Dollar/U.S. DollarFXCM

Description

Price has broken trend and currently conducting a pullback which is making a diamond pattern . Applying the rules of this pattern we can see a target area which may return a good risk/ reward

Trade closed: stop reached

Comments
UnitedSignals
Thank you for that!
yaneydiosdadoalcala
what do you think about it bouncing of resistance under it? since news came out being negative
simtrader19a
@yaneydiosdadoalcala,
that a pattern setup, I play what I see , if breaks the trend line intend shorting to highlighted area, Diamond Patterns work well
yaneydiosdadoalcala
yeah, your talking about aud works well with trendlines and trendline breaks. im guesing your looking at a head and shoulders patter to.
yaneydiosdadoalcala
im waiting to see if the h a candles turn red because I use it to identify the trend
simtrader19a
@yaneydiosdadoalcala,
I like things simple, I like to see sellers if intend to go short and if that breaks the trend line good even better back by volume ,
yaneydiosdadoalcala
ok isee
yaneydiosdadoalcala
whats a video you recoment to learn about volume?
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