I think we have diamond pattern on EURUSD and eurusd goes down tomorrow or next week. It should be good opportunity to sell eurusd. stop: 1.12500 and take profit at 1.112 good luck
Gold market yet to pitch in extremely volatile correction swing. There were correction, range and trend all mixed up in next six months. This is going to be swing traders paradise and positions holders nightmare. Today I would like to share the bigger picture of the market, which is the most possible corrective structure I experienced in spot gold trading. The...
A close inside the cloud (through resistance) is a very bullish indicator. A close above the $51 neckline in the cloud would give me further confidence that price would propel to $60 w/a pit stop around $54. ~$67 would be the ultimate bull target based on the flat kumo. Cloud taken together with MACD , RSI , and stoch , Technicals collectively is mixed. MACD...
NASDAQ:AMGN Diamond top pattern on weekly with negative divergences in both the RSI and MACD indicate downward future direction. Based on height of overall pattern, pattern target is near $100. Should a break upward occur (not likely based on RSI and MACD), pattern target would be approximately $210. See Bulkowski High volume nodes and POC labeled.
Pattern highlighted with traditional target from breakout. Target is the distance of the reaction high (regional all time high) to reaction low within the diamond pattern, subtracted from the breakout of the pattern.
Diamond pattern is very rare and in an uptrend signals a possible bearish move.
There is a Diamond Top on the EurUsd, which is a very bearish figure. The Parity has succeeded to break it out, as it was unable to breakout the 1.09418 resistance level, which would have allowed it to seek 1.10686, its rejection level. The pattern shows a bearish market, with 1.05598 as an objective, and 1.06972 as a primary objective. The daily Pivot Point is...
« The crash site (downtrend end) is often near the price level of the launch site (uptrend start). » T. Bulkowski Just to notice on the S&P 500 daily scale we've got a rare chart pattern : a diamond top. In the case of a diamond top, the psychology of this pattern is characterized by the double indecision of symmetrical broadening. In fact, broadening highlights...
- We got a clean break of a top diamond in the Stochastic and now the pullback seems to be ended - There is confluence with the price being unable to reach the 2007 tops (diamond top there again) - On a lower TF, the break and the pullback is a Ascending Wedge break (see my 1D idea) with once again a diamond top - The RSI support already got tested 4 times, last...
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We all know the market phases: accumulation, mark-up, distribution & mark-down. IMO we are in the distribution phase . It will take time. A diamonds are beautiful and unpredictable. thepatternsite.com www.investopedia.com