2waytrading
Long

Diamond Bullish Bottom (High reliable bullish pattern)

NASDAQ:LNCO   LINNCO LLC
1349 0 0
Identifying diamonds is very hard, once identified..you need to be a good reader of it. Diamond patterns usually form over several months in very active markets. Volume will remain high during the formation of this pattern. The Continuation Diamond ( Bullish ) pattern forms because prices create higher highs and lower lows in a broadening pattern. Then the trading range gradually narrows after the highs peak and the lows start trending upward. The Technical Analysis occurs when prices break upward out of the diamond formation to continue the prior uptrend. Details on the chart. A new option trade is posted for members. If you decide to take a long position, make your stop loss at recent swing low. Stay tuned and safe.
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