BTCUSD GEOMETRIC TRADING (DIAMOND)

Watch out for false breakouts and enter the trade with a trend confirmation

by Constantino CM
The "Diamond" pattern is very reliable.

"Diamond" patterns are both continuation and reversal patterns.
If the pattern occurs in the midst of a trend, it will present a continuation of the trend in the same direction prior to the formation.

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If the pattern occurs at the tops or bottoms, it will be a reversal pattern.

In a continuation pattern, wait for a breakout of the "Diamond" pattern and trade in the direction of the trend prior to the pattern formation.
In reversal formations, trade in the opposite direction of the prior trend.
Confirm breakouts and breakdowns by price-action.

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