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Diamondpattern

Bitcoin available scenarios 💹 © Alt-Season®🎉For me , there are two scenarios ahead of Bitcoin 1️⃣ The price will reach a new ATH and start falling from a level that only the market maker knows (Diamond) , which after the new ATH, we should look for signs of falling in lower time frames. 2️⃣ The price should be rejected from this QM level (the level in which it is located), which is necessary for Bitcoin to be sidelined for at least a month or two to clear the market maker's purchases. 📌 Fail Analysis: price goes to higher levels ( more than three-month candle ATR) without any consolidation 🥂 Still enjoy the alt season at this level
Short
by forexvid
GBPJPY DIAMOND BOTTOM🎄 Hello Traders, Merry Christmas and Happy New Year! 🎉 As we embrace the festive spirit, let's also dive into an exciting trading opportunity that's shaping up in the Forex market. 📚 Introduction to the Diamond Bottom Pattern: What is a Diamond Bottom? It's a unique and relatively rare chart formation that signals a potential bullish reversal. This pattern is characterized by a broadening price range followed by a narrowing one, forming a diamond-like shape. Why It Matters: For technical traders, spotting a Diamond Bottom can be like finding a gem – it often leads to significant price movements if confirmed. 🔎 Analysis of GBPJPY's Diamond Bottom Pattern: Current Scenario: The GBPJPY has formed a distinctive Diamond Bottom on its hourly chart, hinting at a possible shift in momentum. Breakout Point: The key level to watch is the breakout point at 180.366. A sustained move above this level could signal the start of a bullish phase. Risk Strategy: As always, managing risk is crucial. Placing stops below the low prior to the breakout can help mitigate potential downside risks. Target Zones: Primary Target Zone: 62% Retracement: 181.202 79% Retracement: 181.440 Extended Target Zone: 127% Extension: 182.092 162% Extension: 182.573 🎁 Trading Insights: Confirmation is Key: Wait for a confirmed breakout above the Diamond Bottom for a higher probability trade. Market Context: Keep an eye on overall market trends and news, especially those affecting the GBP and JPY. 🌟 Conclusion: Opportunity Awaits: The Diamond Bottom pattern in GBPJPY offers a promising setup as we head into the new year. With careful analysis and prudent risk management, this could be a great way to start your trading year. Here's to a profitable and joyous trading journey ahead! 🥂
Long
by TradeChartPatternsLikeThePros
3
Diamond Pattern: How To GuideThe Diamond pattern, an often-overlooked gem in technical analysis, holds the potential for substantial profits. 💜 If you appreciate our guides, support us with boost button 💜 Despite its rarity, this unique pattern can be a valuable asset for traders. In this article, we'll explore the essentials of the Diamond pattern, from its formation principles to practical trading strategies. Understanding the Diamond Pattern: The Diamond pattern, a reversal pattern, takes shape at the top of an uptrend or the bottom of a downtrend. Recognized by its diamond shape, the pattern signifies a period of decreased volatility, with market participants positioning themselves for the next significant move. Diamond Pattern Formation: Top of Uptrend: Starts with an expanding triangle, followed by a converging triangle. The second wave of players triggers a rapid price decline, forming the Diamond pattern. Bottom of Downtrend: Bears induce a sideways movement, and the second wave of traders, motivated by greed, initiates active selling. Profit-taking by the first wave of sellers leads to the formation of the Diamond pattern. Trading Strategies: Opening a Selling Position: Sell when the price breaks the lower right support line and the candlestick closes below it. Place a Stop Loss behind the nearest high. Potential profit: 60-80% of the Diamond's height. Alternative Selling Approach: Enter at the breakaway of the Diamond's low for a conservative approach. Place Stop Loss behind the nearest low or Diamond's high. Opening a Buying Position: Buy when the price breaks the upper right resistance line, and the candlestick closes above it. Place a Stop Loss behind the nearest low. Potential profit: 60-80% of the Diamond pattern size. Alternative Buying Approach: Enter at the breakaway of the Diamond's high for a conservative option. Place Stop Loss behind the nearest low or Diamond's low. Closing Thoughts: Mastering the Diamond pattern requires patience, technical analysis skills, and disciplined risk management. Despite its infrequency on larger timeframes, the potential for significant profits makes the Diamond pattern a valuable tool in a trader's toolkit. Traders should exercise caution, ensuring the pattern is complete, and adhere to risk management rules, especially with larger stop-loss sizes on larger timeframes.
Education
by Vestinda
Expected continuation diamond pattern formationA continuation diamond pattern, also known as a diamond bottom or bullish diamond, is a technical analysis chart pattern that usually occurs during an uptrend and signifies a temporary pause or consolidation before the price resumes its upward movement. It's considered a continuation pattern because it typically results in the continuation of the existing bullish trend. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade
BSE:ASALCBR
by hardeepssethi
GBPJPY | Will BoJ allow Diamond to shine? From technical point of view, we have clear Diamond pattern on a daily timeframe . As you can see on my chart, latest rally broke through the upper dynamic resistance, but got quickly pushed down while creating equal highs. Market closed at a key lvl static support area and dynamic one , from Diamond formation. Based on just technical side, I'm expecting small correction to retest 182.080 , it is Camarilla long breakout pivot point. After possible rejection, price should move South and break below diamond pattern with possible move to Short breakout Camarilla point at 180.470. But what about fundamental side? Well, Bank of Japan might overshadow other Banks in the upcoming week , if Ueda and other members decide to give us something unexpected. Due to experts, there is possibility for another YCC tweak, but I don't think it will be enough to support YEN to higher extend. Ex-BoJ member thinks that negative rates may stop by year-end, and that's exactly what we are looking for. Some word or single thought that could signalize potential end of negative rates. Carefully watch that meeting since it will be crucial. And here we have Bank of England. BoE is expected to keep the Bank Rate unchanged at 5.25% . Everything will depend on narration of BoE's members. Pause + Neutral stance won't cause any sharp moves in my opinion. Have a great day y'all! All the best
Short
by fxintouch
1
Bitcoin - Pump to 31k soon! (Diamond pattern) Bitcoin crashed to 25k recently, but a huge pump followed immediately after a false breakout of the head and shoulders pattern. Bitcoin was heading down to continue in the downtrend to 21k, but a huge buyer suddenly appeared and sent bitcoin to the upside. Is this a strong reversal pattern? I think so! It looks like Bitcoin is refusing to go lower, which is great news and that's why we need to react to the recent price action and open a long position on futures or buy Bitcoin! It's always extremely important to do an analysis with the Elliott Wave theory to predict future prices. In Bitcoin's case, we have a triple three (WXYXZ) corrective pattern, which you can see on the chart. It's a sign of strength, and this should send Bitcoin to 31K later this year! The diamond pattern looks really interesting; as you can see, the right shoulder and left shoulder are made of parallel channels. The right shoulder is not formed yet, but we will get there. I have to be bullish on Bitcoin as the bulls stepped in, and to make more money, we want to speculate on the price increase until January. I believe October, November, and December will be extremely bullish for the price of Bitcoin! Is this the bottom of Bitcoin? And will Bitcoin continue to rise to 40k and therefore to a new all-time high? This question will be revealed in my next analysis, so make sure you subscribe / follow! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
215
BluetonaFX - SILVER Diamond Pattern BreakHi Traders! There has been a diamond pattern break on the Silver 1D chart, and there is potential for a re-test of the strong resistance level at 25.262. Silver has been on a bull run since it found support near the long-term 22.117 level, and there was a momentum break to break and close outside the diamond pattern to complete the break. We are now looking for further communication towards 25.262. If the market reaches this level, we expect strong resistance here again, as the market has not been above this level since May 2023, so there may be potential selling opportunities near this level. We would love to hear your thoughts on this in the comments section. Please also do not forget to press the like button and follow for more updates. Thank you for your support. BluetonaFX
TVC:SILVER
by BluetonaFX
4
SPY DIAMOND PATTERN ALMOST FINISHED - UP OR DOWN?I've been tracking this for approx 9 months - I thought it had finished its form much earlier however I kept re-drawing trend lines - checking time frames high and low like a mad man. The consensus I keep coming too is we have a huge opportunity here. Diamond patterns are characterized as very rare however extremely reliable bc of how rare they are. They higher the time frame and the longer the pattern takes form the more solid it can be relied upon . We have a few options here: 1. The last touch of the bottom trend line (lower right trend line) has already been touched and once we clear the orange line the breakout will be official - time to go long. 2. There is still one more swing low to go, we should curl down to make one last touch of the lower right trend line. a. That could lead to a total breakdown - signaling a bearish continuation diamond b. Price could stabalize on lower right rend line only to rebound to make its true BULLISH break of the orange upper resistance line marking the high of peak #3 With the downtrend as strong as it was - with the way the market has been moving up the last 2-3 weeks it makes the bull case very good looking, but i can't shake the possibilty that its a rug pull and we are going down. Any critiques or ideas are more than welcome www.tradingview.com ^^^ i still cant figure out how to just get the stock chart without the indicators to load here. anyway thats a link to the tradingview website chart for spy
AMEX:SPY
by arich1282
BTC diamondHey everyone, happy sunday quick idea to show you BTC diamond on the 15 min TF Red vector ranges above if it breaks out of the diamond, however we do have some green vectors residing below. Moving averages are getting tightly squeezed, probability of a move soon. if it breaks 200MA and holds we could see a move up towards 28 K also its in this weird kind of symetrical triangle pattern, heading for potential break out or green vector recovery. But note that it has hit the green vector but left a bit so lets see.
by Crypto_SUP_Surfer
BTC - A bigger move is around the corner! Here's a quick look at the BTC 2 hr. chart. As we can see, the price has formed a diamond pattern, and a break, either way, will happen soon! It is important to note that there exist significant unfilled CME- and Fair value gaps situated below the current price. As a general trend, these gaps are known to be filled eventually. Thus, it would be reasonable to anticipate a price retracement to those levels. It is worth mentioning, however, that such gaps may take an extended period to be filled, though in most cases, they are filled relatively promptly. Also, the current volume is very low, indicating that a more significant move is coming! ------------------------------------------- Key Dates to Watch in March: 30 Mar: GDP Report ------------------------------------------- What's a Fair Value Gap?: A fair value gap is the difference between a financial instrument's theoretical value and market value, such as a derivative or security. It can indicate a misprizing opportunity for traders to profit by buying or selling at the misprized level. In other words, there is a gap in the price in which some open orders still need to be filled. The price will return to fill the orders. ------------------------------------------- If you like the content, then make sure to comment and like the post :D Follow me for daily profitable trading setups. BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
by MBM_Crypto
63
Jasmy Diamonds diamond continuation/top/bottom patterns are rare and hard to spot, best used with other indicators or analysis tools etc. when price breaks out of the diamond it can signal continuation of previous uptrend (or mark tops and bottoms). to measure the move take the high and low and you can take that distance from the break out as an estimated target, break out= entry, stop loss is the Higher Low (HL). furthermore. it is vital to keep in mind that Diamond patterns are not always reliable, and traders should use other technical analysis tools in conjunction with the diamond pattern to confirm. and this is small time frame, highly volatile, crypto asset.
by Jbridgez
3
Total market cap break-out Crypto Total Market Cap formed a diamond pattern in 12H TF. This pattern has just been broken out. CMF values had also broken out its trendline. It's likely that the continuation is confirmed for Total Market Cap. The target woule be +5% the next days. This 5% up is not much but would be very interesting when looking at the current position of Total Market Cap in 1W TF (see the below screenshot). Indeed, in weekly TF, prices has been consolidating right below the trendline resistance for 2 months and a half. A confirmed break-out of this resistance make the whole crypto market go up faster and may reach the next weekly ressitance (possibly +30% from here). For a good risk management, we should not ignore fake breakouts of both diamond pattern (12H TF) and the trendline (1W TF). I would appreciate if you could share your view and your sentiment about the next moves of crypto market?
CRYPTOCAP:TOTAL
by evasivesteering
BTCUSD Ready to exit this big diamondBTCUSD reached further the supply area in overbought condition. A potential decrease of 7% can occur if the price action interact with the anchored VWAP from ATH. This potential movement can ignite an impulsive 5-wave bearish exiting of this big diamond pattern, which is likely complete. Fisher Transform suggests the direction of the price action in 2H and 1D timeframes. Overbought condition on macro scenario, in which the price seems to be form a top, ready to a swing downward to complete a 5th wave of a expanded ending diagonal, likely to finish the actual bearmarket.
BITSTAMP:BTCUSDShort
by firmestudio
$ETH 💎💎💎I'm seeing a diamond pattern on $ETH. From my knowledge where diamonds enter they in most cases exit. I still think there is a small possible bounce to the highlighted circled area around the 1770 area then down. My thought is that the price target down is between the 2 green horizontal lines at 1650-1625 area with a possible extension down to the 1580 area. Why I say the possible extension is that is where the last real push to its current price came from and before the market moves to new destinations whether higher or lower it usually retest old break outs. I will go further into my future thoughts after this move is completed. If it plays out exactly I think we may have a nice move before things possibly get nasty again.
Short
by Riskitpaid