BA SHowing on the weekly defined diamond pattern, I believe most likely a diamond top. See link for example. static-news.moneycontrol.com General rule for trading diamonds are the first target on breakout is equal to the size of the diamond. My first target for BA breakout down from this diamond would be around 247 area, but could go lower for uptrend support...
Gold prices fell on Tuesday on the back of a firmer dollar, but fears of a global economic slowdown fuelled by an intensifying U.S.-China trade war kept prices near multi-year highs.
Meanwhile, Asian stocks on Tuesday were dented by U.S.-China trade frictions. Overall risk sentiment was poor and the trade war was likely to create more volatility, benefiting gold,...
lookin' like we have hit our smaller continuation diamond target but not yet reached the 10.6k range to hit our larger diamond top target yet. We can see price is currently finding support exactly on the 2hr 200ma. Recently had a 1hr deathcross and that coupled with the ETF delay FUD is probably just enough of an excuse to send prices back down...our 3 day 50ma...
During the day a new pattern, that is considered bearish has come into play and possibly marking a high, a diamond-top. Also taking into consideration, that we have developed a bearish ascending wedge, it becomes more likely that we have seen a local high now. Possible targets for this are not $8k .... those are $10.7 and $10k, where we would have to look at the...
Technical analysis is a subjective area, when a person point of view can be different with the others .No traders are wrong when they opened (a) position(S) based on their analysis until the market proves em wrong
However based on what i spotted in DogeBTC weekly and monthly chart , i am assuming DOGE/BTC is forming a "Bottom" Diamond pattern , which can be...
Hello - a quick update on Bitcoin.
This can be wishful thinking, but it does seem like, that as of today (28.01.2019) Bitcoin broke the diamond formation and can strive lower. This means that it will be possible to short it after the breakout is confirmed.
Nevertheless, this market is manipulated and there can be short squeezes, which, in my opinion, can happen...
We are reaching the end of the indecision zone and is a good moment to post a reminder of the actual situation and potential outcomes so we can build a strategy on top of it.
Red circles: Sell areas
Green circles: Buy areas
The actual point concealed inside a diamond shape has statistically speaking more chances to go up, though, we are at 3.43% from a main...
BTC formed a Diamond Top which is an overall bearish sign.
Added to that the Volume is decreasing with time which is also a bad sign.
RSI on 1D timeframe is eerily similar to the 6k$ period where we were moving sideways for a long while. It is also generally stuck on 50 or below which doesn't give much strength to the Bulls.
People in the space seems to be holding...
Not totally sure what to make of this.
It's a slightly bullish pattern here I think. It might mean a 2nd chance to get short from higher prices in the wick zone.
I'm going to hold off on scaling in more short until it gives a few more candles of data.
