Diamonds tops tend to signify reversals.. but you never know...
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it seems to have broken into the bullish channel again and may form a bullish symetrical triangle with the tema 582... let's see !!Trade closed manually
looks like a classic pull back.. I'm bailing textbook style !Note
Sentiments are short after failed cup and descending triangleNote
I've created a kind of support ticket about this formation.. It's a specific kind of diamond that interests me.
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I thought I'd refer to it here because its exactly what I misinterpreted as a diamond in this post.. and it explains why I'm hesitant to long lisk at the present time.Note
I make alot of charts in the post to show just how complicated this lisk formation was.. extremely fractal and if you were on your toes with a good robot you could have made excellent gains..Note
beware of the "heatbeat"Note
lol heartbeat, I can't even call it the right name.. maybe it should be called a drum beat. entry and exit is same price and drop is up to 80% of it's height but sometimes less than 50.. the idea is the three main indicators are there.Note
This was the real thing we should have been looking out for.. The heartbeat that would have made us a few more lisk. Even though we missed the High saleLook out for the signiture same price in and out, volume spike, pipes, rsi wiggle (adjust using fibs to get it to show 3,5,8,15,21,34,55 etc) short on exit immediately. rebuy at 40% to be safe or go crazy and set it to a fib level maybe seventy whatever percent it is. Tall patterns obviously are the best performers.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.