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Diamondtop

Diamond Reversal Forming On Tesla ($TSLA)This pattern on TSLA fits the outline for a diamond reversal that is referenced on Investopedia. It has all the "classical" facets of a diamond reversal which is a high (A), a low (C) a higher-high. Furthermore, this is happening alongside a very similar pattern on NFLX and some bearish patterns on many other stocks. Similar forms also occurred on SPX in 2021-2222 and Bitcoin in 2021. The move up from the 2023 lows has the form of an ABC up... which suggests another 5 wave downmove on-par with or even exceeding the previous downmove is on the way. The move off the highs was a whole 75% so even presuming a moderate 1:1 ratio, the next wave down could be very aggressive which means that an excellent short could be lining up. Trade safe and be careful out there.
NASDAQ:TSLAShort
by RogueEconomics
BTCUSDT Trapped in a DiamondChaikin Money Flow oscillator hidden divergence suggests price action has peaked at supply zone. H4 Overbought. Price trapped by throwing-over diamond top chart pattern by overnight but printing lower high, validating wave (ii). Expecting a profitable impulsive swing downward towards 14.6% Fibonacci retracement level amid 27970, completing wave (iii) @ local demand zone for a potential reaction with anchored VWAP from ATH, i.e. 7% drawdown to a short-term 2D swing trade. Whales maybe sell bulls confidence.
Short
by firmestudio
2
BTCUSD Ready to exit this big diamondBTCUSD reached further the supply area in overbought condition. A potential decrease of 7% can occur if the price action interact with the anchored VWAP from ATH. This potential movement can ignite an impulsive 5-wave bearish exiting of this big diamond pattern, which is likely complete. Fisher Transform suggests the direction of the price action in 2H and 1D timeframes. Overbought condition on macro scenario, in which the price seems to be form a top, ready to a swing downward to complete a 5th wave of a expanded ending diagonal, likely to finish the actual bearmarket.
BITSTAMP:BTCUSDShort
by firmestudio
TSLA G3 DUMP? Markets bounced strong today... but will Tsla join or be the one to take the hit so the other stocks can run? TSLA had a Rough Day I'll Keep this simple.. Here are my thoughts on Distribution Schematic: 114% Bull Run in 1 Month - Mainly Short-Squeeze Move We could see one more move up in a Wyckoff fashion - this will burn the $200 call options along with all the puts added in past 2 days, setting up a Bear Trap and generating more FOMO for Bull Trap 3 thus providing Liquidity for "Composite Man" to make the most $$$ -I also believe that a Markdown is needed for Institutional Buyers to get back into the stock @ lower pricing. Both Scenarios are viable, yet I'm leaning towards#1 .. but will be prepared to go with the trend. Long-Term Bull/ Short-Term Bear good Trading Today
NASDAQ:TSLAShort
by Black_Sheep1
2
BTC: Diamond Effort from the BullsLet's see how this turns out. Highly manipulated ATM, on the macro I'm bearish. Currently, however, a FOMO pump to 22.8K may be in the cards before this thing goes back to structure & back to bed. Be safe, be strong, be wise :) **If you have patience, strong hands, and like scoring wins, be sure to SUBSCRIBE to this channel. Here's why: I track all USD-paired cryptocurrencies on all the major CEXs and seek out the most lucrative swing trades. All my charts are clean and easy-to-follow with exceptional win rates ranging consistently between 80-85%. My TA is based off a combination of Wyckoff Volume Spread & Fibonacci Ratios. Stop getting smashed and start winning in crypto. My charts will teach you how. *Not a financial advisor. Trade at your own risk.
COINBASE:BTCUSD
by jalapablo
2
💎 Diamond Chart PatternAll financial markets, including the stock market, forex market, cryptocurrency market, and futures markets, feature diamond reversal patterns. Compared to many other traditional chart designs, the diamond pattern is less frequent. However, it's critical that you understand and recognize the pattern since, when it happens, it can present a great trading opportunity. In general, a diamond top pattern that follows a rise in market prices offers a greater likelihood of a trade than a diamond bottom pattern that follows a decrease in market prices. 🟢 Bullish Scenario: After a decline, a bullish diamond pattern known as a diamond bottom appears. Typically, a diamond bottom is formed by a significant price decline followed by a consolidation phase that creates up and down swing points. The appearance in this situation will resemble an upside-down head and shoulders design. The structure's peaks and troughs will be connected in the same manner. 🔴 Bearish Scenario: The diamond top typically occurs at the peak of significant uptrends. It efficiently and accurately predicts imminent shortfalls and retracements. By focusing on a head-and-shoulders structure and adding trendlines to the highs and lows, a diamond top can be found. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work , Please like, comment and follow ❤️
Education
by QuantVue
The Dotcom Bust in 2001 vs. SPY or SPX in 2022 - UpdatedThis is an update to a previous idea I've been mooting. This is a deeper dive and follows up with some additional charts. Firstly, an introduction. The bearish diamond reversal is a vary rare technical analysis form. Diamond forms form either bottoms or tops, depending upon relative positioning and are relatively concrete signs of imminent reversals. The "classic" example of a bearish diamond reversal is the Dotcom crash in the year 2001 on the NASDAQ100 ETF. Some analysis of this follows with a comparison to SPX / SPY in 2022. The form of a diamond reversal in the bearish form consists of a high, a low, a higher high, a lower low and then a return to the previous midline-high. We can see this here in the form of the Nasdaq 100 during the Y2K reversal. Furthermore, the form here displays a clear bias towards specific shapes. For instance, here we can see the pseudo-head-and-shoulders form in fig.1 coupled with an "m" shape which appears to be a very messy bear flag in fig 2. On SPY, we have a very similar diamond form unfolding with a similar "high-low-higher high-lower low" type progression. We will have to wait and see what happens here, but so far the form is very similar to the diamond reversal which unfolded in the year 2000. Here's a direct comparison. So we can see Fig.1 across both indexes & timeframes bears a very strong direct similarity from points A to D. Even though we are looking at two different indexes across two very different points in time we still have a very similar shape emerging on the charts. The question mark remains in Fig 2. I suggest watching this closely in the coming weeks for either a resolution or an invalidation of this form. If we continue to follow the form of the Year 2000 diamond reversal, then I would suggest the following chart as a projection of how things may unfold. Watch carefully over the coming weeks because the point we are at now corresponded to the Jun 2000 - October 2000 on Nasdaq at the turn of the century. This means a market cycle of about 110-120 days. We began this part of the cycle in March and therefore the months of July/August will be key if we assume a similar timeframe of development going forwards. Watch out for Fig.2. completion over the coming weeks. Invalidation of this form would see the price move above the 4800 mark because that's what it would need for the market to continue. Additionally, there is a very bearish outline occurring on VNQ real-estate ETF and I include a link to that in the related ideas section.
CME_MINI:NQ1!Short
by RogueEconomics
3
ICPUSDT is creating a diamond patternThe price created a falling wedge on the daily timeframe and had a nice breakout from it and from the weekly resistance (21.20$) On the daily timeframe, the price is creating a diamond pattern after a rejection form the 22.25$ How to approach? For a long scenario, the price needs to have a breakout from the Diamond pattern and 4h resistance and retest it as new support. Otherwise, if the Diamond pattern is confirmed, we could see a retracement on 0.618 Fibonacci level for new liquidity and a new bullish impulse. –––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
by InkyGrip
14