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Diamondpattern

Matic printing a diamond patternCan see FTX:MATICUSD printing a diamond patten on retrace from recent local top around 2.22 Still considering the fib retracement lines (drawn from low of 1.15 to top at 2.22) around 1.77, 1.63 and 1.49 so could be a short term bullish push upwards if it breaks diamond pattern to the upside. Otherwise we’re still looking to pick some orders up around those fib lines, especially around 1.63 as that is a strong long term resistance that Matic is now looking to flip support. Keep in mind using other indicators to confirm movement. Most would look to enter on a break of upper right side of Diamond with other confirmations like volume and stochastic oscillator with a stop loss just below the recent higher low before the breakout. Targets around top of Diamond and one Diamond height extended beyond the top of current Diamond.
FTX:MATICUSD
by UnknownUnicorn6616932
ATOM diamond pattern#ATOMUSDT $ATOM completed the AB=CD pattern as I shared before. now price needs a correction, so I think #ATOM is trading inside a diamond pattern which is a reversal and as you can see included 2 parallel channels. price broke out from middle line of descending channel, but it seems that the middle line of ascending channel have strong resistance. although price may have go up to touch the upper line of descending channel that is the same as middle line of ascending one,, then a slow and boring down trend to lower line of descending channel, to touch the 0.5 or 0.618 fib level of last swing high.
Short
by parissap
9
Diamond Top Break to the Downside?I've successfully traded two smaller diamond formations in the past two weeks, one at the bottom of a local downtrend that broke to the upside and one at the top of a local uptrend that broke to the downside. These have been reliable on shorter time frames. Now it appears we've formed a much larger diamond top here after our weeks-long uptrend. My bias is for this to break to the downside, simply because the smaller patterns have shown reliability for me. It's certainly possible we could break up - but I've closed long positions and placed buy orders at likely targets near 40k and 44k.
COINBASE:BTCUSDShort
by satmastermike
2