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Diamond

HPQ: Bearish Head and Shoulders, Diamond, Dragon, and BAMM ComboHewlett-Packard, after making five macro waves up, has formed a Bearish Structure that can only be described as being a hybrid between a Diamond and a Head and Shoulders pattern, and along with that, it is also a combination of a Bearish Dragon and Bearish BAMM. All of this is happening after HPQ faced rejection off of the PCZ of a Bearish Crab going into its 5th wave. Here is a screenshot of the zoomed out chart that showed the biggest macro wave structure that is on the chart and where all of this is happening:
NYSE:HPQShort
by RizeSenpai
GBPJPY TRADING DIAMONDS Hello, fellow traders! 👋📈 Welcome to TCPLTP (Trade Chart Patterns Like the Pros)! Today, we'll dive into an exciting analysis of GBPJPY using the Mama Diamond pattern, which has now given birth to a little baby diamond. 🤩💎 We'll explore how to leverage existing Fibonacci ratios as support and resistance levels within this single pattern structure. GBPJPY is retesting the previous breakout: 180.524, as most patterns do, price tends to have throwbacks after the main target is hit. Price has formed a diamond pattern on its hourly chart (diamond bottom), indicating a possible reversal in price. Next targets to look at: 181.846 62%: 183.147 79%: 183.854
Long
by TradeChartPatternsLikeThePros
2
AUDCAD GEOMETYRY TRADING DIAMOND CONTINUOUS BEARISH PATTERNSGreetings traders, I trust you had a fulfilling weekend, and to our British colleagues, enjoy the added day of respite for the UK Summer Bank Holiday on August 28th, 2023. As we approach Monday, August 28th, 2023, we should anticipate a potential reduction in trading volume due to the ongoing holiday. However, let's remember that trading opportunities will remain available as Australia and the U.S. markets continue to operate, offering chances beyond the London session. Our attention is drawn to a notable development: the AUDCAD pair is revealing a diamond continuation pattern on its hourly chart. This pattern could play a pivotal role in shaping future market dynamics. Here's a breakdown of our strategy: - Breakout Level: 0.86967 - Risk Management: Stops will be positioned around the mid-point of the diamond pattern or slightly above the previous peak before the breakout. - Targets: Fibonacci levels indicate potential targets: 62% at 0.86656, 79% at 0.86572, 127% at 0.86328, and 162% at 0.86153. - Asian Session News: Keep an eye on Australia's news during the Asian session. Monitoring the AUDCAD pair's response to these developments is prudent. Best wishes for a week of successful and informed trading! TCPLTP
Short
by TradeChartPatternsLikeThePros
SPY DIAMOND PATTERN ALMOST FINISHED - UP OR DOWN?I've been tracking this for approx 9 months - I thought it had finished its form much earlier however I kept re-drawing trend lines - checking time frames high and low like a mad man. The consensus I keep coming too is we have a huge opportunity here. Diamond patterns are characterized as very rare however extremely reliable bc of how rare they are. They higher the time frame and the longer the pattern takes form the more solid it can be relied upon . We have a few options here: 1. The last touch of the bottom trend line (lower right trend line) has already been touched and once we clear the orange line the breakout will be official - time to go long. 2. There is still one more swing low to go, we should curl down to make one last touch of the lower right trend line. a. That could lead to a total breakdown - signaling a bearish continuation diamond b. Price could stabalize on lower right rend line only to rebound to make its true BULLISH break of the orange upper resistance line marking the high of peak #3 With the downtrend as strong as it was - with the way the market has been moving up the last 2-3 weeks it makes the bull case very good looking, but i can't shake the possibilty that its a rug pull and we are going down. Any critiques or ideas are more than welcome www.tradingview.com ^^^ i still cant figure out how to just get the stock chart without the indicators to load here. anyway thats a link to the tradingview website chart for spy
AMEX:SPY
by arich1282
Jasmy Diamonds 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.
by Jbridgez
3
btc is going to make a diamond patternhello guys ... bitcoin formed a diamond pattern however doesn't confirm that yet, be ready for the time when the price breaks down the gray area, if that occurs, the diamond pattern is approved and you can get a short position. put your target on the pink area that I show on the chart. always do your research. If you have any questions, you can write them in the comments below, and I will answer them. And please don't forget to support this idea with your likes and comment
Short
by melikatrader94
7
Advanced Chart Pattern That Pro Trader Must Know 📉CUP AND HANDLE PATTERN A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift.A cup and handle is considered a bullish signal extending an uptrend, and it is used to spot opportunities to go long. Technical traders using this indicator should place a stop buy order slightly above the upper trendline of the handle part of the pattern. There can be both bullish and bearish Cups and Handles. 📊DIAMOND PATTERN The diamond pattern is a reversal indicator that signals the end of a bullish or bearish trend. It is most commonly found at the top of uptrends but may also form near the bottom of bearish trends. The bullish diamond pattern occurs after a strong downward move in price. It consists of two resistance levels that constrain previous retracements and two support levels that have constrained the downtrend. Also known as the diamond bottom pattern, the bullish diamond pattern signals a buying opportunity. Often it is the precursor for a bullish breakout. The Bearish Diamond Pattern, is the mirror opposite of the bullish one, even though it works on the same logic and it indicates the end of the uptrend. 📈SCALLOP PATTERN A scallop chart pattern is a technical analysis pattern that signals a short-term continuation of a bullish trend. It is created when prices make an upward-sloping curve that resembles the letter J on a price chart. That's why it's sometimes referred to as a J-shaped or J hook pattern. During the scallop formation, prices move higher, retrace, and trade lower for a short period before reaching a new peak. This indicates a short-term weakness of the ongoing uptrend and indecision in the market as to whether the trend will continue or not. But if prices are able to hold above the retracement zone for a while, it implies a strong momentum behind the uptrend and a potential breakout of the resistance level. The pattern is considered complete when you see prices break out above the key resistance level and rally to a new high. Once the upward breakout occurs, it confirms the continuation of the prevailing uptrend and a positive outlook on the market for the near future. There are both bearish and bullish Scallop Patterns and both can be used successfully. 📚FINAL REMARKS: Though these patterns are somewhat rare, it is essential for an advanced trader to know about them and to know how to use them, because that knowledge might provide you the missing piece of the puzzle in a difficult market making the difference between a good day and bad day. Which is all that matters after all. So I recommend you to spend some time and learn about the obscure patterns and to make it your goal to find them or at least look for them to give your brain enough data to let it do it’s pattern recognition learning magic. Thanks for reading bro, you are the best☺️ Like, comment and subscribe to boost your trading! Hey traders, let me know what subject do you want to dive in in the next post?
OANDA:XAUUSDEducation
by TopTradingSignals
7