I'm seeing a little diamond top up here. I'm considering short below.. It would be bullish if it broke above but I'm not going long way up here. Watch for MSFT to land on support around the breakout point that descending pattern below.
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OK FOLKS, DECISION TIME. I'm strangled here- mostly short/put options but hedged a little with cheaper calls if we move up strong. I should make money either direction.. I ultimately suspect main direction is down - even if we get a fake out above. I will most likely increase my short position in any spike above. Note
I sold half my positon when msft dropped and held the other half.. glad I sold some off. I can't discern where the bottom diamond line is. These are surely the most complex of the patterns to try and trade or identify. This is what most often happens with diamonds.. They tend to be bearish... unless they're bullish and it breaks above :) Disclaimer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.