Jasmy Diamonds
Updated
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.
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.
Note
also if it breaks to the downside you can just reverse the targets entry and stops to be positioned to the down side.Note
double hit, came down played it again (to the upside) over 100% with some leverage. nice.Note
Note
shame the future play out isnt displayed as the candle bodys were turned off and i was using an indicator and those dont show after posting. were sitting around 0.007200 what a maassive move.Note
i meant 0.007350 LFG!
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