Diamond Top ... Neutral To Bearish | $NZD $JPY #RBNZ #BOJ #Forex
Friends,
A quick review of another advanced pattern, which I rarely trade, but sinde itwas "caught in the net" of my predictive analysis and forecasting system, which signed (not signaled, yet) a potential directional reversal and bearish target at 82.035, I thought it was worth putting it into that same analytical plane and keep an eye on it.
The diamond, either top or bottom variant, implies exactly that there is a potential reversal at a structural level where the market is not able to carry the price any further.
Its characteristics, too, are quite obvious, given the name. What occurs in its formation is a widening, then narrowing of price action, with an steepled top which structural traders would use as a potential stop-loss, and a steepled bottom for entry.
Other traders might also use the boundaries of the diamond as early breakout indicators, but one is never too sure whether that breakout is in fact reliable, considering that the diamond remains capable to form outer boundaries. Hence, only the structural top at the apex, and bottom at the base remain the most reliable of a probable start of a trend renewal.
I hope this makes sense to you. If not, Google that thing at your leisure.
OVERALL:
At the moment, the trend is UP; this trader's directional bias is neutral to bearish; the predictive analysis and forecasting system is neutral to bearish, pending a bearish market reversal sign, followed by a bearish market reversal confirmation - I like being prudent, so layered confirmations are a good thing, like hamburger with BLT plus bacon, fried eggs and peanut butter at Denver's Jimmy Cricket's.
Cheers,
David Alcindor
TradingView.com Moderator, Alias: 4xForecaster
Predictive Analysis & Market Forecasting
PS: If you liked the analysis, feel free to give it a "Thumb Up" and pass of a friendly referral to friends interested in occult market mathematics and hidden geometries. All targets generated are defined by non-price means, and confirmed by either proprietary patterns (Euclid, Janus, Great White, Deep Shark), or other well known patterns. However, we concentrate mainly on Shark, 5-0 and occasional Bats, to complement our predictive analysis and forecasting - Cheers, David Alcindor.
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Get signals, analyses and forecasts on Twitter
Alias: @4xForecaster
-----------------------------------------------------
Disclaimer:
- Remember to remain dubious about every and any thing I say. All comments are subjective perceptions based on unshared, proprietary and common knowledge of fundamental analysis, classic technical analysis, basic and advanced pattern trading, as well as personal research in occult market geometries, predictive analysis and quant-based forecasting, some or none of which is being shared in my trading profiles, so do your due diligence and review the disclaimer below.
- Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
A quick review of another advanced pattern, which I rarely trade, but sinde itwas "caught in the net" of my predictive analysis and forecasting system, which signed (not signaled, yet) a potential directional reversal and bearish target at 82.035, I thought it was worth putting it into that same analytical plane and keep an eye on it.
The diamond, either top or bottom variant, implies exactly that there is a potential reversal at a structural level where the market is not able to carry the price any further.
Its characteristics, too, are quite obvious, given the name. What occurs in its formation is a widening, then narrowing of price action, with an steepled top which structural traders would use as a potential stop-loss, and a steepled bottom for entry.
Other traders might also use the boundaries of the diamond as early breakout indicators, but one is never too sure whether that breakout is in fact reliable, considering that the diamond remains capable to form outer boundaries. Hence, only the structural top at the apex, and bottom at the base remain the most reliable of a probable start of a trend renewal.
I hope this makes sense to you. If not, Google that thing at your leisure.
OVERALL:
At the moment, the trend is UP; this trader's directional bias is neutral to bearish; the predictive analysis and forecasting system is neutral to bearish, pending a bearish market reversal sign, followed by a bearish market reversal confirmation - I like being prudent, so layered confirmations are a good thing, like hamburger with BLT plus bacon, fried eggs and peanut butter at Denver's Jimmy Cricket's.
Cheers,
David Alcindor
TradingView.com Moderator, Alias: 4xForecaster
Predictive Analysis & Market Forecasting
PS: If you liked the analysis, feel free to give it a "Thumb Up" and pass of a friendly referral to friends interested in occult market mathematics and hidden geometries. All targets generated are defined by non-price means, and confirmed by either proprietary patterns (Euclid, Janus, Great White, Deep Shark), or other well known patterns. However, we concentrate mainly on Shark, 5-0 and occasional Bats, to complement our predictive analysis and forecasting - Cheers, David Alcindor.
-----------------------------------------------------
Get signals, analyses and forecasts on Twitter
Alias: @4xForecaster
-----------------------------------------------------
Disclaimer:
- Remember to remain dubious about every and any thing I say. All comments are subjective perceptions based on unshared, proprietary and common knowledge of fundamental analysis, classic technical analysis, basic and advanced pattern trading, as well as personal research in occult market geometries, predictive analysis and quant-based forecasting, some or none of which is being shared in my trading profiles, so do your due diligence and review the disclaimer below.
- Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster