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Diamondpattern

Bearish Diamond Formation in Parallel ChannelThe diamond top occurs mostly at the top of considerable uptrends. It effectively signals impending shortfalls and retracements with relative accuracy and ease. The diamond top formation is established by first isolating an off-center head-and-shoulders formation and applying trendlines dependent on the subsequent peaks and troughs. It gets its name from the fact that the pattern bears a striking resemblance to a four-sided diamond.
OANDA:XAUUSDShort
by UnknownUnicorn4762443
5
Diamond Continuation Pattern| Low volume| Bullish Continuation?Hello Traders, Today’s chart update will on BTC’s immediate projection- we have a probable diamond formation which serves as a bullish continuation pattern. Points to consider - Trend travelling into apex - .382 Fibonacci as local support - RSI respecting trend - Stochastics in lower regions - Volume declining - VPVR area being tested BTC is closing in on its apex signalling a break from this formation is imminent as local support and resistances converge. Local support is the .382 Fibonacci; BTC has been respecting this level as buy pressure is evident. The RSI is respecting its trend line, must hold for a bullish bias as this is in confluence with the stochastics being in lower regions. It can stay trading there for an extended period of time, however lots of stored momentum to the upside. Volume is clearly declining; increase is highly probable upon breaking out of the Diamond formation. The VPVR confirms the .382 being a strong trade location for buy pressure. Overall, in my opinion, a break bullish is probable as the Diamond Pattern serves as a bullish continuation pattern. BTC may have one more leg up before a proper correction as this trend is getting more extended. What are your thoughts? Please leave a like and comment, And remember, “The big ones take the psychology out of the game. Have a game plan, and stick to it.” Tim Erber
BYBIT:BTCUSD.P
by AzizKhanZamani
4
BTC (Y20.P1.E5).MACRO.Trend.ForecastHi all, ** Note: This POST is only about the MACRO level. > After looking at the bottom and drawing some trend lines, it occurred to me that we possibly have a "DIAMOND reversal trend" , at the Macro level. > Beyond what most have have accepted and pretty much confirmed is that a inv. H&S took place, which is not the whole story. > FYI I define inv. H&S as a Micro or Medium level move (just to make sure my language is with consistent meaning). Below are some of my observations\hypothesis and the rest I leave to you to come up with your conclusions. Enjoy. Please give a thumbs up or a like if you agree or just appreciate the effort. Regards, S.Sari /CryptoProspa I'll just put in the micro level observations to give a case for the "DIAMOND bottom formation" At the big structure level, what we had in 2019 was a continuation pattern. A big year next year and on-wards? (note red vertical line represents BTC halving time line) Also not key details about macro fib. levels and their confluences. I like this MA, which does a good representation of the segment from bearish to bullish indicator. The RSI also has some points on supporting the bullish thesis on the daily and weekly which I wont go into. My thoughts at the MEDIUM LEVEL with a DIAMON support structure Supporting this post, is the PREVIOUS POST and the explanations to go with it for bottom channel trend
BITSTAMP:BTCUSDLong
by ssari
CADCHF - Diamonds are a girl's best friendCarol Channing was singing this already in 1957. Usually this pattern means reversal and that's what I'll be tracking in the beginning of 2020 - until the end of this year there may be just fakeouts with all the holidays in place. After a clearly defined direction there's an opportunity for basket of pips. As charted, I'll offload some parts of position at marked areas. So just on radar for the time being. Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Long
by rludvik
More bad news looming- diamond Pattern set up now or earnings?I bought Dec 27th 280/300/320 for .60 last Friday due to $BA not acting right - news came that they are halting production. I have been trying to enter long trades but yet news never gets any better - so I decided to switch it up and buy a put fly. The trade was trading at 3.25 this AM - I left my position on. I will cover half if stock closes green tomorrow and possibly enter a short term call fly targeting the 350 area. Let me know what you think? -- I strictly place options trades.
NYSE:BAShort
by OptionsUnleashed
Silver LongHere we have a classic by textbook diamond formation, sign of an equal power between bulls and bears, Long term the price will follow the direction of the break out in which case that direction points upwards. The macro scale of the price action also shows a bullish divergence inside a descending channel that price has been consolidating for the last couple of months since that high at 18.67 on September 23rd . Oscillators a bit noisy on the 4H but the divergence comes through on this time frame connecting the lows at 16.835 and 16.635 and 16.49 we can clearly see a bullish divergence on the MACD and a bullish divergence on the 16.635 and 2649 on the RSI - which also gives Bulls the upper hand for the long term. Switching on the Daily the same divergence comes through pretty clear. Happy Trading , Volatile markets ahead, keep safe : )
TVC:SILVERLong
by django2
BTC (Y19.P2.E11).v3.Something to watch out forPotentially a diamond formation taking place. Quotes from 3 sources. 1) This can be a reversal or a continuation. where break up is 70% chance, and the chance of a break down is 30%. 2) How much has #Bitcoin rallied as a result of its Halvings to date? Halving 1: +13,378% Halving 2: +12,160% 3) The market has a way of inflicting pain on late entrants, always. It does not care about your plans. Keep an eye out for the signs of total negativity and complacency by bears. Diamond bottom formation reference > www.profitf.com
Long
by ssari
#bitcoin - continues falling to it´s support (3D)Good Sunday morning traders, last week I have been saying, that there is space down to minimum $ 8165. Looking at this still very valid potential diamond bottom pattern just sitting on the so important Yearly Pivot. So the big question is, where this is going to break. Considering the fact we are on top of the P-Y and it´s position, the odds are better to break this upwards, I am expecting a rather strong move within the next 2 weeks, until then possibly ranging in the lower $8k´s waiting for buy-orders to kick in. What would be very typical Father Bitcoin is a break-down and strong stop-run to take out the shorts and heading back up to form a low. (Or the other way around) I am refusing to set targets for either direction at the moment, simply because Bitcoin has been a bad boy recently. Anything else stays the same. As usual I have marked you the important upcoming supports / resistances. (Also have a close look at the cloud!) I am still scalping by the way. Not ready to take a more steady position just yet. :) Happy trading. Neru p.s. I´d be very happy about a like and comment! Thanks!!
BITMEX:BTCUSD.P
by Gl4diator
8
#bitcoin - #diamondbottom #chartpattern , 3DDear Traders, obviously this is just an idea and nothing that can be traded by now. For this I have taken out one of my former charts, where I tried to show you the stages that are probably awaiting us. Currently I am still not bearish mid to long term. This drop was caused by a broken key-level around the Monthly Pivot and we are now starting to approach the first zone of possible support (yellow area). At this point I am starting to see a possible diamond bottom pattern forming out. It is very early, so no forecasts can be based on this. Anyhow the old trend line is around this support-area as well and likely some orders are going to be hit soon. What I would not like mid-term is another break below the Yearly-Pivot. We are still in a very neutral zone, where anything can happen. Warm regards, Neru
BITSTAMP:BTCUSD
by Gl4diator
4
EOSBTC Diamond Pattern| Breakout Imminent !Hello Traders! Today’s Chart update will be on EOS/BTC, we have a potential diamond pattern coming into its apex, suggesting that a break in either direction is imminent… Points to consider - Trends is overall bearish - Local support and resistances are posed by the diamond formation - Structural resistance in confluence with diamond bull break - Stochastics trading neutral - RSI approaching apex zone - EMA’s neutral, no clear direction - Volume declining - VPVR decreasing in transactions in both bull and bearish direction of the diamond pattern EOS macro trend is considered to be bearish, putting in consecutive lower highs as it entered into to current diamond pattern. Local resistance and support of the diamond pattern are converging, coming closer to its apex; a break will be imminent in the near future. Structural resistance is in confluence with the technical bull break target of the diamond pattern. A bear break target will however post new yearly lows for EOS, a break in either direction is imminent, we just need to wait for confirmation. The Stochastics is currently trading neutral, momentum is stored both ways for the bulls and bears, we don’t have a clear direction as of yet. The RSI is however approaching its apex; a break will come to fruition which will be in confluence with the actual price break from the diamond pattern. EMA’s are quite neutral with no clear direction; price is clearly trading through it. A break will establish either support and or resistance for the EMA’s, this will obviously be in confluence with a bull and or bear break. Volume is declining, low volume suggests that a breakout is coming; we need to see an influx of volume with follow through to avoid a false breakout. The VPVR is quite interesting, volume of transactions have decreased both ways, this signals low levels of resistance posed by the VPVR when price breaks its apex… Overall, IMO, a break from this pattern in either direction is very close, with concessive targets. We have volume declining as price comes closer to its apex, an influx of volume is more likely to come to fruition which will signal the break from the pattern. What are your thoughts on this diamond pattern? Please leave a like and comment, And remember, “Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb
by AzizKhanZamani