Coin found resistance with a wick above the 2 Hour UBB, now testing the 2-hour MBB as a sharp consolidation across the indices has commenced. Patterns and Mirrors, Coinbase is a great example of symmetry in the markets pricing mechanism as the left and right side of this Reversal Diamond, when the right half is inverted, are defined by dueling cosine and tangent.
I'm not sure which direction it ultimately will want to go but due to the diamond it certainly has my attention and I am watching it.
The Lower High on this All Time High was set via a Confirmed Diamond Reversal Pattern. What followed was a period of price compression into a triangle.
Putting the Fixed Range Volume Profile to work shows price found short term support at the Point of Control. The Lower Trend-line and the Diamond Reversal Pattern Break .786 offered demand for the wick to the upside.
Consolidation after the ATH run continues as the Bear Pennant broke too the downside. The Diamond Back-Tested Bear after failing to recover the .5 of the drop from ATH. Now time to scout the next reversal pattern on the 8 hour frame.
Diamonds signal either a reversal or continuation pattern, making them the most challenging of all chart patterns to front run. For me is time to wait and watch, as price makes it way through the compression phase of the right side of this gem.
diamond and rising wedges pattern formed in H1 & H2, while H4 is pending wave 5 to complete the diamond formation. expect big fall if 5 waves completed in the big diamond (H4). Price to top at 52.5 - 52.7 (short area) target price at, 47.2 - 49.2
Click the pic to read last post and detail. It hesitated after hit TP1 and break out again now, so we modify SL to 0.1511. Remember take some profit and give it more time ! ✅TP1:0.1478 ✅TP2:0.1606 ✅TP3:0.1658 TP4:0.1714 TP5:0.1770 🔴🆕TP6 : 0.1950 If you like this analysis, give it a like or share your thought or let me know what crypto TA you want to know.
Diamonds are for Theta Burn. Rotate out of Amazon into Apple before European close at 11:30 and back again in the afternoon. Net = Options sellers win the day.
In 1h chart There is a diamond top and a potential double bottom in the chart . If price break out the diamond and stand firm above the neckline ,trading strategy as below . *top wick shorter than 1/2 body SL:0.1262 TP1:0.1478 TP2:0.1606 TP3:0.1658 TP4:0.1714 TP5:0.1770 If you like this analysis, give it a like or share your thought or let me know what...
Off the charts. Testing 27 billion after the parabolic move to the upside.
Price remains inside the Diamond's lower bound; Losing the 2 hour MBB with a bear back-test of the 8 EMA. Support was found in the premarket with double-bottom at the 5 min, LBB. The next support is below at the 2 hour LBB, a mark SPX found during the overnight session.
The Euro had a bit of a rally on Friday however the United states dollar showed sudden pressure on the Euro mid day during US session. This sideways action has formed a clear bearish diamond on the 4H / 240 time frame. Im expecting EUR/USD will test lower support levels next week. The favorable support is 1.1500, we shall see next week but keep an eye on this...
Supported by the 2 hour MBB and testing, price formed a Diamond at the top of a range. Diamonds serve as both continuation and reversal patterns.
Using the Higher Low and Previous ATH as parameters, Shib broke-out of a Diamond on a Continuation to the upside.
The market feasted on the fuel from the iH&S break and has powered price to the Golden Section of the Pattern Break Target. Along the way a H&S was invalidated and a Diamond served as a continuation pattern to the upside. Big Tech continues to report as both MSFT and APPL have set up above support in sideways patterns.
Found support at the Pattern Break Target Golden Mean. ETH and NFTs - some research to do. I hope you all have a great weekend.
A Diamond Pattern at the top of a trend signals a reversal or continuation, making them challenging to front-run. Watching for signals in the price action to provide clarity.