259 8 3
Looks like a Diamond. Not confirmed. Measured move noted.
Hi KLang.
Like your analysis. But isn't a diamond both bullish and bearish depending on the direction of breakout? With break through top or bottom as confirmation?
Yes. A diamond can break either direction. It looked like it would break to the downside last week. It can be a reversal pattern OR a consolidation pattern.
So we got a break to the upside, and then some last minute downturn and panic reflected in the VIX. What's your take on that?
breaking below 114 might do it, ???
KLang PRO claydoctor
Yeah, breaking out of it, either direction. Really tough market right here. I'm having better luck playing intra day patterns.
I agree, the consolidation patterns are everywhere, so a single stock day trade may be best for now, until some of these triangles break at apex or before. (I think this week - maybe), earnings season has been poor. But currency devaluations, and rate reductions are rampant too. wow, what a time this is.
GMOTruths claydoctor
The pattern is bearish, but it's not cutting the neckline; not cutting the Right Shoulder. It might retrace Monday or the momentum could continue downward.

Other correlations are the price of oil and the dollar index.
What do you need to confirm? More candles narrowing? (I'm asking because I don't actually know).
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out