Diamond
BTCUSD Bearish Diamond Pattern: is it a start of bearish market?What is a Diamond pattern?
A diamond pattern is used for detecting reversals: there are two types of diamonds:
Bullish diamond - can be found on downtrends and shows a possible reversal upward
Bearish diamond - can be found on uptrends and usually signals for an upcoming major correction
Once rightly identified, it is one of the most profitable patterns for using reversals for trading strategy. Diamond chart formation is a rare chart pattern that looks similar to a head and shoulders pattern with a V-shaped neckline. Diamond chart patterns usually happen at market tops. This pattern occurs when a strong up trending price shows a flattening sideways movement over a prolonged period of time that forms a diamond shape. Detecting reversals is one of the most profitable trading opportunities for technical traders. A successful trader combines these techniques with other technical indicators and other forms of technical analysis to maximize their odds of success.
Does it mean we bearish market starts soon?
Diamonds shows high probability of reversal only at long-term timeframes such as 1D and higher. Currently we detected the Diamond patter on 1H timeframe chart which has a small trend continuation probability.
If you take a look at 1D timeframe chart there is an imperfect Diamond pattern formed on uptrend price action.
Due to imperfections of the formation the probability of starting global bearish price action is low. However a downward cross of Stochastic Oscillator lines combined with Diamond chart pattern formation on 1D and 1H signals that correction is coming. Bitcoin can retrace to $47 865 level
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Loading up the crypto-list. $BCD.Bitcoin-Diamond went parabolic today.
Look for a return to the .50 fib level in the days and weeks to come.
Diamond Breakout PatternETH hourly chart
Can see a clear diamond form with the price action
Added some cool mosaic type
Breakout is now
Holding $Reef is a Unicorn Reef Mainnet in May is the catalyst for this movement
Current all time high is $0.30 and will break that most likely during this run up
Long term being built upon Polkadot and partnering with all major Defi projects this is easily at $30 coin or more
NAS - Diamond MirrorNAS has Res at the 2 hour UBB 2nd Dev. First post will be the double-top at 13858.
Bullish Diamond breakout could target the 786 retrace and beyondThe MACD seems to be trying to build more positive momentum as volume picks up near a breakout zone I believe we could breakout and see much higher levels if this continues.
SPX 2021 Q1 - A Bull Market in 3DSPX setting HH and HLs as it crosses the 4000 barrier. The week ahead will focus on the NAS and it's triangle break.
Total Eclipse of the Heart4th diamond top a charm. chop. SPX is bull flagging with support on it's 2 Hour 50 SMA. Holding this in the overnight will provide some assurance for plays to upside. The 2 hour pattern of Lower Low, Lower Highs persists with a double bottom tweezers outside the 2nd DEV LBB as deep support.
AAPL - Diamond Reversal or ContinuationThe Diamond - always keeps us guessing. The play is a backtest of the Diamond bound, in either direction with break-out volume.
GC> the battle fo 1700 continuesYesterday it looked as if we were headed toward 1700. But then price reversed back into the diamond. However the setup is still perfectly valid. And my thoughts are the same for the most part. However after adjusting my zones just a little, I have seen a path to below 1700. You can follow this with the red shaded down arrows. Personally I will decrease my position with each level achieved. Please use good risk management if yo decide to follow my idea.
Please support me with a thumbs up and a follow if you like my ideas.
Ms. Puckbunny
GC> to 1700. Let it beginI have entered the GC short trade. Please refer to my prior chart regarding this (see link below). My trigger has fired as break below the diamond and point of control has happened. Albeit, on a smaller time frame than my usual 4 hour. So, did I jump the gun? Perhaps, but I took this risk because all I see short at the moment. You can see my risk reward, and possible secondary target to 1700 in red.
I believe this is as strong short so I have risked a little more than usual with the caveat that I will end the trade early if it does reverse.
SPX - In 3D - Channel RESBlue dotted channel res - looking for a bull flag for a break, into the 1.272. Trying to hold the 5 min 8 EMA, above the 2 hour 50 SMA
SPX - Bear Diamond Break ConfirmedNice recovery in the early AM as the .618 of the Blue Dashed Channel Held. Looking to break .786 resistance.
GC> Gold to 1700This set up has short written all over it.
1. Diamond pattern- this is often a reversal sign. This could arguably be called a bear flag as well.
2. Although not drawn on this chart an upwedge can be found in the diamond. Also a bearish reversal sign.
3. Down trend line test multiple times since early January 2020.
4. A demand zone that seems to be begging for price to come to it. ( this is a subjective statement- but sometimes your gut tells you things.
So I will short on a break below diamond. Yes this looks like a good short and seems very likely with a simple setup. But just when you think you know what is about to happen the market fakes you out. That’s why the stop loss was invented and why you ALWAYS need to use good risk management.
Let’s see what happens.
As always I love the thumbs up and a follow if I you enjoy what you see!
Thank you for stopping by :)
Ms. Bunny
Start rocket to the MoonSince the beginning of 2020, the action gradually falls , the jumps are very limited, which shows resistance.. Buyers are not able to overcome the various obstacles.
Finally, bitcoin cash is an investment opportunity. The price has not experienced high volatility in recent months, which means there is a strong recovery to be made. Investors should see this as an opportunity to make money. It is a more rare occasion at this level the! Accumulate losses and be at the lowest in the hours, days and month accumulated, the takeoff of the rocket is mitigated with a very strong also
PLTR - looking to gain and hold the .764Continues in the conslodation channel with a mild downward tilt, need to overthrow the .786 and hold
NAS - Supported by Consolidation Zonewicked the .5 of the purple island square channel. see previous post for zoomed out view of the larger inverse (which is a long way from the neckline - time to see it all develop.
ENJ WITH CONSTANT POSITIVE REINFORCEMENT. NFT MARKET BOOM 💎ENJ and THETA have been dominating this NFT influx of investors the past weeks and are outpacing most major crypto in a very positive trend. ENJ and THETA will 2x before you finish reading Dante Alighieri's The Divine Comedy. Stay safe out there everyone. Be smart. Don't panic.
💡 DIA/USDT💡 Hello everyone, if you like my idea, follow me with likes and comments, I will also try to share the best ideas with you, Always do your own research before opening positions and always put stop limit.
