Larger diamond pattern forming after the July pattern played out and hit target. Strong bullish divergence on the larger time frames, bounce off the .618, and RSI trend break and backtest (similar to July/Aug run) looks pretty good. Could come back to test the support line before continuing
On Jan 3, I posted that SPX had been trading in a diamond pattern since late May, a potentially bottoming formation in a bearish market. It has been 2 weeks since and this pattern continues to play out. 2 days ago, SPX managed to close above its 200 day moving average and stopped right at the critical longer term trendline resistence again. This is the 3rd...
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...
Just a quick update. SPX closed the year 2022 with a Diamond Pattern. This pattern is potentially a reversal pattern (potentially bearish if it occurs at Market Tops, and potentially bullish if it occurs at Market Bottoms). Where it is occuring now, it could be a bottoming process for the SPX. However, Nasdaq is still the weakest link right now and still...
Bearish Indications (BIASED SHORT) 1. Rejected or retest from a resistance level 2. Formation of Bearish Diamond Pattern 3. Trend Line Broken 4. Bearish Divergence 5. Entry at Bearish Candle Neutral Indication 1. Price still in the range/consolidation phase Bullish Indications 1. By Breaking the resistance level and making a new HL then the trend will be bullish
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 $17,500 where it is also proven to be a diligent support. Lets see if the next few candles can manage to break the resistance of the pattern, which I believe is likely as we have a bull flag forming on lower timeframes.
It appears to me that a bearish diamond pattern is coming to an end - based on the qqq's direction and the overall sentiment on the direction of the entire market I would wager that its going to eventually (soon) break the lower purple line (140.15) which represents a heavy volume/price area. As you can see that level has been an area of strong adherance...
There are two scenarios for #Gold it seems can create the diamond pattern
The SPY is forming a bearish diamond reversal pattern just below critical trend resistance from the larger trend. If we create a bear-spring pattern at this larger trend resistance marked with the dotted green line, or if we simply reject down from it, then we can assume a high likelihood of breaking the diamond to the downside. Of course, naturally, if we form...
Hey Guys This the bowtie diametric analysis of bitcoin's 4H chart i'm publishing This wave is going down is wave G please don't hesitate to share your ideas regards Reza
Panama petrochemical weakly chart diamond pattern break out
it seems to be forming a diamond, on the weekly it looks like a symmetrical continuation triangle, there is no resistance on the weekly, the two gaps of Nov 20 and the island reversal of the end of March 21 could help in establishing a BreakOut I also don't rule out a bearish reversal H&S, the volumes initially made me think about that
A bit of diversity is good for everyone. Gold Rush is good. Diamond Rush will be more insane. if you want to diversify. Buy Diamonds now, sell before 300$. Thanks me later. The Best predicitons are when u Detect the Push before the Rush ! not when is too late to enter. Happy Tr4Ding !
Audusd trying to be a diamond pattern We well see and selling to increase profit Good luck for every ……. …$$$$$$$$
Correct me if i wrong, i see diamond bottom here. So, I think we can long now.
RLC is an Ethereum token (web3 crypto) of IExec, specialized in cloud computing. In the roadmap of the company, they intend to announce "RLC Learn & Earn" program in 2023. Will it be a new hype after "Play & Earn" with AXS, "Run & Earn" with (STEPN) GMT? Let wait until then... But at the moment, RLC seems to make a big move the next days. RLC's prices have been...
We can see a diamond pattern is forming, this is a reversal structure. Strategy is: 1) Wait for trendline breakout (near 19200) 2) Stop loss is last low (18510) 3) Ideal target is diamond height (near 20876) Active managing the trade is needed. Lets see!! Please like and follow. Best regards.
Hello, Looking at the ETH post merge can note few observations: 1. We are most probably in a Diamond Top reversal pattern on the 1D chart which is already in play ---> Target: The previous range high right below $1,300. 2. The current price action on the 1D chart looks A LOT similar to the one we had back in the period February-May, 2022. 3. The ETH/USD...