Get started

Diamond

Long Diamond industry(SIG)they got beat last earning, more than they should. weekly chart is showing they may reverse here. This is a long term hold. Sell 200 $34.00 Stop 200 $23.50 Buy 200 $27.29 As always, I will give you my fundamental reasons why I like the stock. I was in the market for a 2 ct diamond ring and did a lot of research. I reviewed a bunch of sites and I was really impress JamesAllen.com, did a backsearch to see who owns it and Long and behold it was SIG. "Signet Jewelers Ltd. is the world's largest retailer of diamond jeweler. The company is domiciled in Bermuda and headquartered in Akron, Ohio, " However, they own more than just that online retailer, they are almost a monopoly in the diamonds industry. Look at my list below for other companies they own and you'll be surprised. Anyways, back to JamesAllen.com, they really step up their game with that site, it was a top notch diy website for ring shopper with some of the best tools available. I don't see how they wouldn't capture the millennial online market with that site. This is a stock, I'd put away in my 401, forget it for a bit and load up again if they get shave 50%. Subsidiaries Zale Corporation Kay Jewelers Jared Ernest Jones H.Samuels Leslie Davies James Allen
NYSE:SIGLong
by WallSt007
Diamond bottom has triggered with a 1hr chart goldencrossAlthough here on the 4hr chart the volume does not look notable, if you zoom into the 1 hr chart you will see a big volume spike that lines up exactly with the recent 1 hr golden cross. We have not yet hit our projected breakout target of the diamond bottom pattern which makes me think we have one more small bullflag breakout upward from here to around 3850 before we form yet another lower high and continue to the downside again. So I'm technically bullish here but very very temporarily. We have found a way to have price action crawl above the 1 day 50 ma and currently that ma is overlapping one of our horizontal teal trendlines so as long as the 1 day 50ma has flipped to solidified support it is likely a double reinforced support. One more bullflag break upward to 3850 will reach the diamond bottom target and will likely head downward from there considering we appear to be repeating the previous diamond bottom fractal from a week or two back. I am watching for 1 day 50ma to hold support if it doesn't then I think we could head immediately back down. If we hold the support I think one more bullflag leg up is likely but overall I think we are still heading back down ultimately even fi we do break one more leg up so because of that I will leave this idea neutral.
BITSTAMP:BTCUSD
by DrDovetail
A dominant pattern emerges in btc: a 1day symmetrical triangleThe symmetrical triangle has been growing more and more predominant with each day candle and now seems to be the most valid of the current possibilities. The symmetrical triangle itself is a continuation pattern coming off of a recent downtrend so it favors the downside. However, also still currently valid is a diamond bottom pattern(in purple) which usually favor an upward break(however bearish continuation diamonds also are a thing). For this reason alone i'm leaving this idea neutral instead of bearish. After these two patterns the next bear pattern we can see here is a potential head and shoulders pattern..currently its not as certain to play out but if we were to break downward from triggering the symmetrical triangle breakout would most likely at the very least dip under the neckline of the head and shoulder pattern with a wick. If we were to then trigger that head and shoulder pattern we are looking at 2.8k territory and possible capitulation at that point. If we are to trigger the diamond bottom pattern and head bullishly upward the target for the diamond bottom breakout is around 3850ish or so ....odds are very good at that point we would most likely eventually just form another lower high end would simply be prolonging are inevitable capitulation that much longer. I personally think a break downward is better in terms of allowing us to speed u the end of the bear market at this point so I'm siding with continuing the downtrend even though the idea will be listed as neutral. Finally though we have some clarity at the predominant patterns currently on the chart. Thanks for reading and good luck!
BITSTAMP:BTCUSD
by DrDovetail
1
BTC/USD H4 chart (1/18/2019)Good morning, traders. Nothing has really changed since yesterday. Today we are taking a look at the H4 Bitfinex chart. The red lines draw an almost perfect diamond pattern. McGinley Dynamic is currently sitting just above price which is bouncing off support at the moment. The targets based on the diamond are shown, as are immediate supply and demand zones. RSI has been printing a descending broadening wedge since December 20th, and within that an ascending triangle since January 14th, suggesting a break to the upside for price. MACD has been trending higher since January 11th and is nearing a bullish cross of centerline. However, it has slowed down quite a bit the past few days as expected due to the price consolidation within the diamond. Volume has been dropping off as a result as well. If price pops up, then I expect a test of the upper supply zone EQ at around $4120. Continuation above that level will have price pushing through the D1 50EMA. A close above that EMA should set up the $4800-$5600 targets. A move down should expect to find strong demand in the lower zone. A close below that zone should open the gates for a possible move down to $2450 if $2850-$2950 doesn't hold. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITFINEX:BTCUSD
by Chris_Inks
BTC/USD H1 chart (1/17/2019)Good morning, traders. Yesterday we took a look at the larger TF and today we will check out what the smaller TF is saying on the Coinbase chart. I have outlined the black TR, red possible flag, and the blue diamond that is currently printing. We can see that price is nearing a decision point. Does it go up or down? Price is at the bottom of the TR and possible flag, suggesting support will give it a bounce. It is also printing a diamond. The breakout targets based on the diamond are shown in both directions with my belief being that price will target the S1 pivot if dropping and the R1 pivot if rising. Furthermore, targeting the R1 pivot should have price ultimately targeting the upper red resistance and, if this happens, then there is a lot more reason to believe price will push through it and head up to those higher targets that have been in play for 3-4 weeks now. However, if price heads down then it will break that flag and likely retest the 2018 lows. It doesn't have to, and we could realistically see a bounce from the S1 area, but with a move down like that it seems more likely to retest those lows. RSI and MACD are printing their own triangles in unison with price's diamond. We can also see volume dropping off pretty well over the past four days. With the price, RSI, and MACD consolidations occurring, a strong breakout is imminent and traders would likely do themselves a favor by waiting for confirmation of direction before entering a trade. As I have continued to warn traders, we need to see volume increasing as price increases to provide the fuel needed to push through that nearby overhead resistance. Failure to do so means price is most likely headed down. However, down may not be bad. If there is a move down from here to the ~$2900 target, then it could very well just be a Spring which would indicate bullish momentum incoming and we could expect a very nice move up. However, we would have to wait until that point and evaluate price action and volume at that time. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
COINBASE:BTCUSD
by Chris_Inks
2
diamond bottom now diamond kite bottom; same target as bull flagI see confluence in the current bull flags breakout target and the price target of the diamond kite breakout giving me confidence we will hit tis target...in order to do so we will need to break above the inverted head and shoulder neckline...while I think we will come within at least 1-2 pips of this price target I'm not so certain on whether or not we will actually trigger the inverted head and shoulder breakout....if we were to come close to hitting this target and then had a sudden huge whale dump right after the candle that reached the trget could still close under the inv h&s neckline and cause a fakeout/dump instead. I will be paying very close attention to the volume levels once we get near the price target...if we do indeed trigger the inverted head and shoulder pattern afterwards we can climb as high as 5.2k also a possibility we stay just above the neckline or dont even get above it before a dump. Best to consider all bearish and bullish outcome potentials to be best prepared for which direction it decides to ultimately go. I'm still anticipating one last capitulation dump candle but that could come immediately or not until we reach 5.2k it could even continue up one more leg after 5.2k before the capitulation dump and also a slight possibility capitulation has already happened...so best just to play the charts for their current condition instead of trying to be certain of thigns that are still speculation at this point.
BITSTAMP:BTCUSDLong
by DrDovetail
BTC breaks up from diamond; finds resistance at broadening wedgeSo its now looking like the diamond pattern may indeed be a diamond bottom rather than a bearish continuation diamond as we have broken bullishly upward...however 2 big resistance lines stand in its way that may be powerful enough to send it back down and create a bull trap. The top trendline of the falling broadening wedge(in green) and the 1 day 50ma just above that (not shown on the 4hr chart) these have both been very steady resistance and there's a chance one or the other have enough resistance power behind them to knock this pattern back downward. I would be more comfortable thinking the upward break is legit if we see price action rise above the head on the 1hr charts head and shoulder pattern and invalidate it...currently where price action has seen resistance is at the exact same height as the peak of the right shoulder which may be enough to trigger a double top on smaller time frames. This idea is being left neutral because although it looks pretty good for the bulls on the 4hr chart there' also plenty of resistance and bearish possibilities that could change that...if we can close the daily candle this high up and follow on the next 4hr candle with a big bullish surge then the bull break is legit if not there' is still time to fall..but considering there's no more room in the diamond I think we will need to see a bearish break below it this candle close instead of next. As always not financial advice just my own personal understanding of the current price action. I think a bull break takes us to 4.1k and a bear break to around at least 3.6k but either are currently possible with probability now currently favoring the bull break slightly more.
BITSTAMP:BTCUSD
by DrDovetail
1hr head and shoulder pattern forming at end of diamond patternWe can see a 1 hour head and shoulder pattern is threatening to break the neckline right now and if it were to do so we would essentially have a breakdown of the bearish continuation diamond pattern. We eliminated the possibility of it being a diamond bottom pattern when no volume accompanied the fakeout bullis breakout and nwo it is crawling back inside the diamond pattern at the last second to be able to turn it into a bearish continuation diamond with help from a 1 hour head and shoulder pattern breakdown. The target should the head and shoulder pattern breakdown but not not trigger the diamond is 3.6k and the secondary target should it also trigger the diamond breakdown we can see is much lower...I anticipate at the very least the head and shoulder breakdown occurring considering weekends are pretty infamous for dumping. However 4hr stochrsi is alreay pretty overextended on the bearish side so I can see a rebound happening by the time the 1 day stochrsi reaches that zone as well. However it is completely within the realm of possibility for us to also dip to the bearish continuation diamond target and even to the bottom trendline of the larger descending broadening wedge pattern we are seeing...if we do indeed fall below the 4hr 50ma(in orange) for too long of a period of time that gives us a real possibility of having the deathcross on the 4hr timeframe occur again which will inevitably lead to more downside...but I am hopefully we wont go farther down than the bottom trendline of the descending broadening wedge. These scenarios are only in pla in my mind if we first trigger the 1 hr chart head and shoulders...it will be what starts the dominoes on this one...if not we may just bounce back above the 4hr 50ma but probability does not favor this.
BITSTAMP:BTCUSDShort
by DrDovetail
Confusing priceaction on btc uncovers 3hour Diamond pattern!took me a while to be able to nail down the current pattern we were in after many 1hr,4hr, and 1 day chart bull flags and bearflags seem to keep 180ing right in the middle of their breakdowns....I finally was able to connect the dots on the 3hr chart and found this diamond pattern forming. Typically diamond patterns that occur after downward movement like this one are bullish and break upward known as diamond bottoms...the vice versa is true for diamond tops. I have also read that diamonds can sometimes be continuation patterns but every example I've seen talking about that only gave a bullish example...so with the exception of a fakeout probability probably favors an upward break from this diamond, unless of course bearish continuation diamonds exist too and I just cant find any examples. This was a very sudden downtrend so to already see a reversal diamond after the downtrend had only just gotten started made me think there could be bearish continuation diamonds...if anyone knows of any please let me know otherwise I'll assume that even though we have just started a new downward trend we are already doing a diamond bottom reversal. I still think we will likely revisit the bottom trendline of the diamond one more time before any breakout upwards however so thats where I plan to enter around 3.7k with a stop loss set should it confirm a bearish breakdown
BITSTAMP:BTCUSD
by DrDovetail
3
A quick short to 3.6k or so after diamond top appears.we have been forming a diamond top on the 2hr chart. The last break upward to 4.1k was assisted by a 2hr chart golden cross, but now that same timeframe is forming a diamond top with the trendlines following the candle bodies...there is a slightly more obtuse diamond top on the 4hr chart that can be connected by wicks....if the diamond top by candle bodies is the more valid pattern we will dip to at least 3.7k and if the diamond top charted by the wicks is more valid then we may dip to 3.6k or so....3.6k would make for an excellent top of the right shoulder for our currently speculative 1 day chart inverted head and shoulder pattern.....the projected top of the right shoulder seems like it will likely coincide with a golden cross on the 4hr chart but the inverted head and shoulder is currently still a speculative pattern only but still one worth keeping an eye on.
BITMEX:BTCUSD.PShort
by DrDovetail
1