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Diamond

EURUSD Short from Hidden Gem/Diamond Pattern, SL @ 4 Dec 18 HighMark Douglas on Chart Patterns: We can use all the various tools to analyze the market’s behavior and find the patterns that represent the best edges, and from an analytical perspective, these patterns can appear to be precisely the same in every respect, both mathematically and visually. But, if the consistency of the group of traders who are creating the pattern “now” is different by even one person from the group that created the pattern in the past, then the outcome of the current pattern has the potential to be different from the past pattern.It takes only one trader, somewhere in the world, with a different belief about the future to change the outcome of any particular market pattern and negate the edge that pattern represents. The most fundamental characteristic of the market’s behavior is that each “now moment” market situation, each “now moment” behavior pattern, and each “now moment” edge is always a unique occurrence with its own outcome, independent of all others. Uniqueness implies that anything can happen, either what we know (expect or anticipate), or what we don’t know (or can’t know, unless we had extraordinary perceptual abilities). A constant flow of both known and unknown variables creates a probabilistic environment where we don’t know for certain what will happen next. This last statement may seem quite logical. Why Most Demo Trades result is very much better than "real" money?!"...To be a Consistently Profitable Professional Trader you need to acquire a psychology skill called "Trading without Fear" a carefree state of mind in trading.. In The Zone/In the flow state of mind ..."Mark Douglas :Trading In The Zone : Professionals don't perceive anything about the market as painful; therefore, no threat exists for them. If there's no threat, there's nothing to defend against. As a result, there isn't any reason for their conscious or subconscious defense mechanism to kick in. That's why professionals can see and do things that mystify everyone else. They're in "THE FLOW", because they're perceiving an endless stream of opportunities, and when they're "NOT IN THE FLOW". the very best of the best can recognize that fact and the compensate by either "SCALING BACK" or "NOT TRADING AT ALL"...
Short
by SteveTan
1
Bitcoin Diamond - Go Up, 24 % ( short term ) Buy Price: 0.0000271 - 266 target 1 - 0000.310 target 2 - 0000.337 sl - 0000.250 Bitcoin Diamond, a good buy zone for short-term profits. As well as a good potential for the medium term, where profit can be more than 100% Profit Expectations: 24 Percent Sell when you got some profit according to your way of trade. I am sure, you will be get nice profit. Good Luck! Looks Good? Leave a like, share and leave a comment. Thanks for visiting.
BLong
by PavelBodo
XRP hitting chart pattern breakout targets exactly as predictedFantastic to see today's (November 5th) xrprice action do exaclty what I have been predicting this whole bull flag it would do. Not only did the initial breakout reach the small 4hr chart inverted h&s breakout target it then continued up after triggering the diamond pattern and on the way there found resistance exactly at the long astanding diagnoal ascending trendline (in red) before finally flipping that red line back from resistance to support and then continuing up to eventually after the fomo subsided plateau at the exact breakout target of the diamond bottom breakout. We have still yet to reach the full target of the bull flag yet consider how massive of a pole it had it was the largest breakout target..but I think we will reach that target in the very near future...maybe a brief sideways consolidation to cool down some indicators before the enxt move up to hit that target. Overall I'm very thrilled with how exact things seem to be breaking out and how much they are adhering to the chart patterns and other very important TA such as the fact that we now have golden crosses on the 1hr, most recently the 4hr chart...and the most ultimate timeframe of all for golden crosses the 1 day chart. The golden crosses are also more effective when both the 200 and the 50 moving averages are pointed upward which we are already seeing on the 4hr chart and soon should be seeing on the 1 day chart as well. Beyond TA looking at the fundamental analysis there are bullish signs everywhere as more and more major partners are revealed that are using XRP and big events such as ripple associate Ryan Zagone talking at the IMF DC fintech meeting about "major developments". Sendfriend, and seeimingly newxrp base currency exchanges being revealed on a daily basis. Plenty of reasons to continue to be bullish on xrp in my opinion but I'm not a financial advisor...so what do I know? :P Thanks for reading!
Long
by DrDovetail
BTC Diamond Bottom (13.7%)$BTCUSD diamond bottom in play at the moment. Details below from thepatternsite, and satisfying many of the required conditions. First target: 7020 Second target: 7260 "Touches: Prices will touch each trendline once or twice. Don't worry if your lines cross some of the price outliers." "Volume trend: Downward trend 67% of the time." "Breakout: Upward 72% of the time, when price closes outside one of the trendline boundaries." "Price trend: Diamonds with short-term (less than three months) or intermediate-term (three to six months) price trends leading to the diamond perform best, depending on market condition and breakout direction." "Price velocity: High velocity moves after the pattern often follow high velocity moves leading to the pattern." "Yearly low: For best performance, diamonds with breakouts within a third of the yearly low perform best."
BITMEX:BTCUSD.PLong
by cubantobacco
1
BTC still flat#BTC 12h The market continues to go sideways, despite the recent bullish divergence. The relevance of the positive scenario is strengthened by the formation of a possible reversal pattern of diamonds, as well as overcoming the resistance of the recent downward trend. But just do not forget about the earlier crossing of the MA50 and MA200, in this situation a deadly cross, which indicates a trend of further decline. In any case, while the market is in a state of lateral movement, opening long-term deals (both long and short) from current levels is rather risky. You can see the formed resistance of 6600 and 6800, as well as the support at 6100 and 5800. In general, price retention in this range indicates the market's desire to test resistance again rather than support, but strong buy signals are currently not observed and the market continues to go sideways .
BITSTAMP:BTCUSD
by CryptoWolfsTrust
WOW! Many Patterns! Can the DIVA handle this? *WEEKLY UPDATE***Hey guys, time for first weekly update! :-) Check all these patterns! All double-Tops got triddered and "rode" by the market. Do they got invali? They just show us a lot of weakness, fraught and doubt at the bulls-side! All of these DT`s have created a Shoulder-Head-Shoulder_Pattern which is a Trend-turning-pattern. AS you can see, we have a gap between DAX and Dow Jones. DAX usually follows the US-Indices and likes to close gaps lie that! But how will the US-market be doing? We will see. Stay tune dnd be prepared for all scenarios! I had to reupload because I made the mistake to poromote another website! Sorry! ;-P Paace and good trades Irasor Wanna see more? Don`t forget to follow me!
XETR:DAX
by Trading2ez
$DMD, Bounce Or Failure Weekly Looking at our trend timeframe we see DMD is stuck in a major downtrend with no signs slowing down. Stochastic rsi showing monumentum has bottomed out, but still no signs of reversal. Expecting price to fall towards 20000, and bounce off this level, if we do not bounce off this level, it gets scary. Daily Shifting over to our pattern timeframe we see price has found support at 40000, stochastic rsi showing momentum heavily shifted towards the upside. A daily close above 41500 activates our trade, a rejection from this level and expect DMD to sell off towards 20000.
DLong
by UnknownUnicorn2434649
SPX threatening to Dump OvernightThe S&P500 is consolidating in a diamond pattern, and there's a decent chance OANDA:SPX500USD futures will pull us down lower during the Globex session. The NY close demonstrated selling pressure in the upper yellow zone on the chart; an area where sellers have profited from selling before. The VZO-PZO below the chart shows falling back into the diamond will likely cause a fail of the bullish trendline on the oscillator, and the TMF above is signaling lower with bearish divergence. If we continue to trade lower on tariff jitters, there's good reason to think the NY open will involve anther test of the vitally important 2700 area (lower yellow zone) on SPX. I expect an initial bounce on high volume, then a a back-test of the diamond consolidation. If price is unable to close an hourly candle back inside the diamond, expect 2700 to fail. Targeting 268 or as low as 267.5 on SPY, either tomorrow (Friday 7/6) or early next week.
OANDA:SPX500USDShort
by Red_Ben
Diamonds are a trader's best friend?Good morning, traders. Bitcoin found itself trading sideways over night once more, narrowing the range as it did. CME Bitcoin futures expire tomorrow, so it is possible the market is waiting for this to happen before we see a spark to ignite bullish momentum. Of course, we could just as easily head downward, but this doesn't make as much sense considering price movement and equalizing/increasing volume. We continue to watch price action evolve on the 4h chart. At this point, there is a diamond pattern nearing completion. The expectation is a strong push out of the pattern either up or down. Usually, a diamond pattern at the end of a trend is a reversal, but it is not guaranteed. Upon a strong breakout, we should expect price to initially target the diagonal resistance or support areas as noted by the extended lines. MACD is starting to pull away from the signal line slightly perhaps giving us a glimpse at upcoming price movement. RSI and %B continue to bounce off their support areas with the former looking more bullish than the latter. On the 1h chart, we can see price finding current resistance at 61.8%. RSI continues to bounce off support and %B against resistance. MACD is printing a bullish cross. It also appears we may be seeing a diamond pattern forming in this time frame as well. The target, as with the larger pattern, is the point at which the action began (i.e. the drop point). Technically, it's the price range between the lowest and highest points within the diamond, but that action point is where it should take you and, as you can see in both time frames, it does. These are two other ways in which to find the target of the breakout. Traders shouldn't be concerned about price action pushing out of the boundaries of the potential diamond as this some times occurs. Diamond patterns are often much rarer to fine, however we may be seeing them at this point due to the low volatility combined with algo trading that is going on. While overall volume is equalizing/increasing, the local volume on these time frames has been dropping while price is moving within the patterns noted. I would feel more confident about the patterns if we were seeing increasing volume more recently and, to be honest, I'm hesitant with these due to the amount of white space within the pattern. Continue paying attention to BTCUSD longs and shorts as well. Currently, shorts have been dropping and longs have been building. I hear the calls for a long squeeze, but this is much more rare than a short squeeze and tends to happen most often in illiquid markets (Bitcoin is not illiquid). If the bigger picture I have been describing is accurate, then we should expect to see longs build and shorts drop as the market begins a new bull cycle. Shorts find themselves with a greater ratio to longs during bear cycles, though above 1:1 they tend to still get squeezed. Remember, shorts are necessarily contrarian to overall market movement as markets tend to trend upward. My expectation remains that we will see price rise through July and into August. As always, we do not trade on opinions though -- mine, yours, or anyone else's. Opinions should only be used to derive a potential narrative with associated price action. This allows a trader to develop confirmation points at which he/she decides that one particular price movement is more likely than the other. But risk management remains key and traders should always assume their trade is going to be wrong. This forces them to be much more cognizant of their risk management. At the end of the day it is your risk management that makes you money, not your win rate since the only thing you control in the market is how much you lose.
BITFINEX:BTCUSD
by Chris_Inks
4
VVS Diamonds in my bag now, $DMD Weekly Looking at our highest timeframe we see price formed a lower high at 200000 followed by a lower low at 80000. Lower high again at 100000, price is now currently testing our major support zone at 70000. Stochastic RSI showing momentum continuing towards the downside, no signs of slowing down. Daily Shifting over to our pattern timeframe we see price had a sudden drop from 75000, price has since remained inside our master candle. Stochastic RSI showing us momentum is heading towards the upside, a daily close above 75000 activates our trade. However if we do not close above this level expect a drop towards 50000. Conclusion Wait for a daily close above 75000 / Bounce off 50000
DLong
by UnknownUnicorn2434649