I wrote on Jan 18 that SPX had been looking "optimistic" technically as there were several factors favoring the bulls.
After FOMC meeting yesterday, the bull case has now received further affirmation:
1. Both SPX and NQ are now above their 200 day moving averages
2. Both have broken above a long term trendline resistence
3. SPX is about to "Golden Cross" (ie...
The diamond bottom pattern is not a common formation but is considered a strong bullish reversal pattern amongst technical analysts. This bullish reversal pattern first expands from the left-hand side and then contracts into a narrower range, until price breaks out above the resistance line and completes the pattern.
I've been frustrated trying to figure out what the s&p500 is doing as it won't crash and won't recover. I think it might actually be forming a diamond bottom pattern: thepatternsite.com
This is a pretty accurate sign of a bottom. It's likely to fully recover, so if it starts breaking upward don't question it. Good luck!
On the VIX Volatility index , I have observed a diamond pattern, which suggests that the current instability in market sentiment is likely to lead to a rise in market prices. Based on this, I decided to open a long position at the entry price of USD 21.21. I have set the Stop Loss level at USD 19.53 so that if market prices turn worse than expected, I can close...
On the chart above we can see a clear diamond bottom forming on Bitcoin's 4 hourly chart. This formation could cause BTC to rise to the level of $17,500 where it is also proven to be a diligent support. Lets see if the next few candles can manage to break the resistance of the pattern, which I believe is likely as we have a bull flag forming on lower timeframes.
We have a MACD Bullish Divergence as the RSI begins to exit the Bearish Control Zone i also like the low PE Ratio.
I think it's in position to me a 50-61.8% Retrace upon breaking out.
Diamond bottoms are a strong indicator. I believe there is a high probability of the breakout from this diamond will lead to its target around $76. As it gets closer, I think trailing stop losses on stocks would be a good strategy considering inflation continuing and monetary policy temporarily easing. More tightening will likely be necessary as a result of...
A bit of diversity is good for everyone.
Gold Rush is good. Diamond Rush will be more insane.
if you want to diversify. Buy Diamonds now, sell before 300$. Thanks me later.
The Best predicitons are when u Detect the Push before the Rush ! not when is too late to enter.
Happy Tr4Ding !
NKN has been consolidating within a diamond bottom pattern since almost 2 months. RSI touches also its trendline. NKN will break the pattern very soon.
Statistically, breakout is favored. In this case, referenced targets are in chart.
Today we compare Tesla's current candle patterns to a prehistoric falling wedge candle pattern found on Bitcoin on July 15th, 2021. I'm a big fan of history repeating itself so I decided to take a deep dive on the similarities between both charts. They indeed look quite similar. I traced both candle patterns in white, and you can see that Bitcoin printed a falling...
COTI formed a diamond bottom pattern. The diamond was broken and retested (by the upper side).
COTI is now moving up. Some support and proposed targets are in chart.
I would like to create a late post here just to clarify the idea that I commented in my previous post. Today BTC's move was as predicted: BTC was down to 39ks with a wick of 38500 (I predicted a wick of 38400, yesterday) and immediately bounded.
Since my early post on 06th April, I still think that if BTC can close above 42200 (EMA 50D) with 4H candle, it will a...
BTC has been ranging since two days. I'm looking at its chart on 1H timeframe and realize that a diamond bottom pattern has formed. Price is on the left lower-edge of the diamond and RSI touches its trendline. I think in few hours this ranging would end and we'll know better about the trend on higher timeframe. Statistically, breakout is favored.
Still I think...
The price created a falling wedge on the daily timeframe and had a nice breakout from it and from the weekly resistance (21.20$)
On the daily timeframe, the price is creating a diamond pattern after a rejection form the 22.25$
How to approach?
For a long scenario, the price needs to have a breakout from the Diamond pattern and 4h resistance and retest it as new...
Hey, Hi, Ho, whats up,
Seems to me like we have a pretty decent diamon pattern playing out here after a more than massive drop to the stock. I have found, and its also pretty well recognized that although rare, diamond patterns are extremely profitable if played correctly.
Not only can you flip short exp calls and puts as the up and down waves are pretty...
