8/10 BEARISH DIAMON PATTERN
Hey dear community,
this one is an educational one.
Introducing the Bearish Diamon Pattern.
So, basically, this pattern is a bearish pattern, which appears at top levels, as well as an inverted version of it at possible or temporary bottoms.
Therefore I used this Key takeaway from Investopedia, which helped me a lot and I wanted to share with you:
-Traders use price patterns such as pennants, flags, and double bottoms and tops to forecast profitable trading opportunities and explain market dynamics.
-One useful price pattern in the currency markets is the bearish diamond top formation.
-The diamond top signals impending shortfalls and retracements with accuracy and ease.
-A diamond top can be located by isolating a head-and-shoulders formation and applying trendlines to the peaks and troughs.
-Utilizing price oscillators with the price pattern can increase the accuracy of a trade by gauging price action momentum.
-Key levels are 30000
-Expect to trade within the extended range of the Diamond.
-RSI looks okayish, there's is plenty of room growth, as well for the downside.
This pattern will possibly reach the right end of the diamond pattern.
Let´s see if this works on the Dow Jones (US30).
Happy trading everybody!
this one is an educational one.
Introducing the Bearish Diamon Pattern.
So, basically, this pattern is a bearish pattern, which appears at top levels, as well as an inverted version of it at possible or temporary bottoms.
Therefore I used this Key takeaway from Investopedia, which helped me a lot and I wanted to share with you:
-Traders use price patterns such as pennants, flags, and double bottoms and tops to forecast profitable trading opportunities and explain market dynamics.
-One useful price pattern in the currency markets is the bearish diamond top formation.
-The diamond top signals impending shortfalls and retracements with accuracy and ease.
-A diamond top can be located by isolating a head-and-shoulders formation and applying trendlines to the peaks and troughs.
-Utilizing price oscillators with the price pattern can increase the accuracy of a trade by gauging price action momentum.
-Key levels are 30000
-Expect to trade within the extended range of the Diamond.
-RSI looks okayish, there's is plenty of room growth, as well for the downside.
This pattern will possibly reach the right end of the diamond pattern.
Let´s see if this works on the Dow Jones (US30).
Happy trading everybody!
Trade closed: target reached
May the force be with you
this is absolutely advanced stuff, which I will have in my mind and get into it IF it happens.
For now, our short-term short trade was technically successful, good job!
For those who traded the bounce wow, I didn't see that coming! :P
I Will update soon!
Have a nice day guys & happy trading