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Diamondpattern

Ethereum Falling Wedge Breakout into Diamond PatternBullish Convergence is forming on ETH on the Daily Time Frame. On top of that you are nearing the apex of the Diamond Shape pattern after a falling wedge breakout. All near areas of presumable value. On top of the bullish signs I have spotted, you are also showing significantly lower amounts of selling volume compared to the last major impulse down. A breakout of this wedge can lead to amazing gains. It seems impossible now, but common retraces from the very swing top are depicted on my chart inside the pink box. Those are presumable areas where price action may reverse if we ever got to those areas ;) Twitter: twitter.com If you want to be a loving supporter of me and my "ChArtworks" $BTC: 35tmT7MAQXZm7rr1KzZMWNRpN2iyrnSB4z $LTC: LVfCT9fu4dYyFAo5cW5xLrzHZHWFoG85hn $ETH: 0x390d207b9bde62f2806caddfb94809de61da50d9 $x42: XZXm43FJcZHEVNs9dh8mdfzWyY6VfmJvPc Donations are never required but they are greatly appreciated! Your Supportive comments and follows are just good enough too :D <3 Join the best Crypto and Technical Analysis Community in the world! Discord: discord.gg (Mitch Ray's Channel) Amazing community and I highly recommend checking out Mitch Ray if you haven't yet!
COINBASE:ETHUSDLong
by ChArtWorks_TechnicalArts
6
BTC - A possible diamond patternI wanted to try and figure out what pattern this recent price action was forming, and I realised that there seems to be a sort of diamond shape. - Diamonds can form as both 'tops' and 'bottoms', so the only way to know is to wait for a clear break of the shape. Where BTC is right now ($7970) it looks like it needs to hold the bottom support and create a large wick, showing some defence from bulls in that region. My only concern about this shape is that bitcoin has been creating higher lows since the 27th of September. So this might suggest a possible channel or rising wedge of some kind, although the shape does not seem clear as of now. What are your thoughts? Is this a potential diamond pattern?
COINBASE:BTCUSD
by olleyy
3
Bitcoin Diamond Pattern with Bullish Convergence?Good morning ladies and gents! I have spotted a Scuffed Diamond Pattern. The measured move of this to the up and downside is about a 3.82%. It's only a matter of time until we breakout. We are approaching the apex of this pattern. It looks like a long ways away, but keep in mind, this is the 1 hour time frame. I would use the 4 hour, but you have already seen the bullish divergence that has been forming. The bullish Convergence on bitcoin is new. This usually means impending price action reversal. This has been a downtrend on the smaller time frames which means a reversal would be to the upside. A measured move of this to the upside is about $8300-$8400 area which also coincides with our wedge profit taking levels between the 50% and 61.8% retrace. A measured move of this to the downside brings you to around $7600 which would be about the bottom of the wedge formation again. I hope you all have a wonderful rest of your day and night! Hopefully this was of help as the price action seems to be a bit slow right now. Twitter: twitter.com If you want to be a loving supporter of me and my "ChArtworks" $BTC: 35tmT7MAQXZm7rr1KzZMWNRpN2iyrnSB4z $LTC: LVfCT9fu4dYyFAo5cW5xLrzHZHWFoG85hn $ETH: 0x390d207b9bde62f2806caddfb94809de61da50d9 $x42: XZXm43FJcZHEVNs9dh8mdfzWyY6VfmJvPc Donations are never required but they are seriously very appreciative! Your Supportive comments and follows are just good enough too :D <3 Join the best Crypto and Technical Analysis Community in the world! Discord: discord.gg (Mitch Ray's Channel) Amazing community and I highly recommend checking out Mitch Ray if you haven't yet!
COINBASE:BTCUSDLong
by ChArtWorks_TechnicalArts
Potential Diamond pattern-Head of a possible Head and Shoulders My current opinion (to be invalidated if there are signals that contradict my current view). On daily charts, we could probably see an ultimate outburst to the top next week before a progressive collapse (on November 2019?) of the US (and therefore worldwide) equity markets. If this happens, then we would have a perfect Diamond pattern which would be potentially the Head of a Head and Shoulders' pattern. I'd pay attention to the monthly diagonal supports, in addition to everything you know (whether it is linked to data analysis, indicators, patterns, momentum, volatility, intermarket analysis etc.). If this, which could appear to be too good to be true for long-term short-sellers, really happens, then maybe we could see the "Trump rally" become erased(Fundamental new could be linked to raise in corporate taxes again? Punishing the FANG etc?). Borrowing could become more expensive (increasing interest rates). This would go the same for the European Quantitative Easing. We would then be back to 2014-2015, where I think every equity markets started to become a Central Bank-engineered "price bubble". Volume could decrease towards the formation of the potential second shoulder, then spike while the neckline is being cut. The RSI could start going lower and lower until oversold territory. But this would be a positive sign for shorts.
OANDA:SPX500USDShort
by UnknownUnicorn569872
Boeing Weekly Diamond Pattern BA SHowing on the weekly defined diamond pattern, I believe most likely a diamond top. See link for example. static-news.moneycontrol.com General rule for trading diamonds are the first target on breakout is equal to the size of the diamond. My first target for BA breakout down from this diamond would be around 247 area, but could go lower for uptrend support line touch. Here's the issues with trading this. This pattern could theoretically extend out for a while yet to come. So, to minimize risk the safe play is to wait for break below trend line/bottom diamond line to short. There is another, riskier play. Of course with more risk also generally comes more reward, so balance that according to your trading style. Option 2 would be to short now, since the last weekly candle touched then pulled back from a short term resistance trend line. If it were to be rejected and head down to bottom of diamond, that's a handsome reward without even breaking the formation. Nevermind how much dough it would be if it actually went ahead and broke out. If you decide to play this choice, be sure to set a stop loss just above the short term resistance trend line, so around 370. This represents a 5:1 ratio in favor of reward just to bottom of diamond. Total RRR to first target from close is around 15:1. Hit a nice gain last week off that Monday premarket drop, but will likely wait for breakout of formation to short here. Happy hunting and GLTA!!
NYSE:BA
by UnknownUnicorn1314136
1
XAUUSD- Will price continue its move to the upside?Gold prices fell on Tuesday on the back of a firmer dollar, but fears of a global economic slowdown fuelled by an intensifying U.S.-China trade war kept prices near multi-year highs. Meanwhile, Asian stocks on Tuesday were dented by U.S.-China trade frictions. Overall risk sentiment was poor and the trade war was likely to create more volatility, benefiting gold, Lu said. China has lodged a complaint against the United States at the World Trade Organization over U.S. import duties, trashing the latest tariff actions as violating the consensus reached by leaders of China and the United States in a meeting in Osaka. A new round of tit-for-tat tariffs came in effect on Sunday and although U.S. President Donald Trump has said both sides would still meet for talks later this month, tensions have shown little sign of abating. Also keeping investors on edge were uncertainties over Brexit with Prime Minister Boris Johnson indicating he could call an election to block lawmakers’ efforts to avert a no-deal Brexit. The long consolidation gives a signal for a bullish reversal back to the upside only when price breaks the diagonal resistance. The bullish reversal chart pattern spotted on the 1hour time frame is called the Diamond bottom chart pattern. A diamond bottom is a bullish, trend reversal, chart pattern. A diamond bottom is formed by two juxtaposed symmetrical triangles, so forming a diamond. A diamond bottom has to be preceded by a bearish trend. This pattern marks the exhaustion of the selling current and investor indecision. Volatility and oscillations increase in the first half of the pattern (i.e. in the symmetric broadening wedge pattern); then decrease in the second half of the pattern (i.e. in the symmetric triangle). A diamond bottom’s price objective is calculated by plotting the maximum height of the diamond at the exit point. - In 82% of cases, the output of a diamond bottom is bullish. - In 79% of cases, the price objective of a diamond bottom is reached. - After exit, in 43% of cases, the price makes a pullback in support on the resistance line of the symmetrical triangle (2nd half of the diamond). Breakout price- $1529.560 Resistance 1- $1532.072 Resistance 2- $1534.853 Resistance 3- $1539.339 Resistance 4- $1543.197 Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button! Ideas published should not be referred to as an investment advice
OANDA:XAUUSDLong
by PrimeXBT
2
Diamond Top followed by smaller continuation diamondlookin' like we have hit our smaller continuation diamond target but not yet reached the 10.6k range to hit our larger diamond top target yet. We can see price is currently finding support exactly on the 2hr 200ma. Recently had a 1hr deathcross and that coupled with the ETF delay FUD is probably just enough of an excuse to send prices back down...our 3 day 50ma is currently sitting right around 8k and climbing fast so if gapboys are gonna hav their drams of he 8.5k gap getting filled this is one of the last time windows to pull i off considering that the 3 day 50ma tends to be massively reliable support during bull markets and price is highly unlikely to close a candle below it. Only way I could see bc closing a candle below the 3 day 50ma a his point and/or flipping it to solidified resistance is if the bull market is already over which is highly highly unlikely but not impossible, if that's he case then all the elliot wave doomboys may actually be right but for now I doubt it
COINBASE:BTCUSDShort
by DrDovetail
#bitcoin - Possible bearish diamond top "H2"During the day a new pattern, that is considered bearish has come into play and possibly marking a high, a diamond-top. Also taking into consideration, that we have developed a bearish ascending wedge, it becomes more likely that we have seen a local high now. Possible targets for this are not $8k .... those are $10.7 and $10k, where we would have to look at the possibility of making a symmetric triangle which can go both ways, instead of the former mentioned ascending triangle which is rather bullish nature. This is only H2 interval, so nothing that is going to have an intense influence on the further longterm development. Keep an eye out. _____________________________ Warm regards, Neru
BITMEX:BTCUSD.P
by Gl4diator
3
DogeBTC- Diamond PatternTechnical analysis is a subjective area, when a person point of view can be different with the others .No traders are wrong when they opened (a) position(S) based on their analysis until the market proves em wrong However based on what i spotted in DogeBTC weekly and monthly chart , i am assuming DOGE/BTC is forming a "Bottom" Diamond pattern , which can be intrepeted there is a possibility this is a Bullish Reversal pattern , which has good probability to hit maybe 200 sats are a Or this is maybe a bearish continue pattern which has probability to hit under 1 sats area ) depend on breakout direction. Well, under 1 sats area , and i will be happy to hear if doge delisted from their current exchangers. Lets us wait with patience to see a clear confirmation which directions doge will move
Long
by Riza
3
Bitcoin DIAMOND BOTTOM IN?Hello - a quick update on Bitcoin. This can be wishful thinking, but it does seem like, that as of today (28.01.2019) Bitcoin broke the diamond formation and can strive lower. This means that it will be possible to short it after the breakout is confirmed. Nevertheless, this market is manipulated and there can be short squeezes, which, in my opinion, can happen sooner rather than later (a pullback after a drop of that magnitude is normal). Touch of the trendline (now resistance) could give an potential entry to short. Best of luck.
COINBASE:BTCUSD
by SparkLife
Main chartist patterns and resistances on BitcoinWe are reaching the end of the indecision zone and is a good moment to post a reminder of the actual situation and potential outcomes so we can build a strategy on top of it. Red circles: Sell areas Green circles: Buy areas The actual point concealed inside a diamond shape has statistically speaking more chances to go up, though, we are at 3.43% from a main resistance comming from ATH and below it we have a sell area. By following a 2 minimum risk/reward ratio, our SL would be at 3530$, which is too close... so I will stay out at stable coin for now. If we drop, we have an harmonic pattern at +/- 3300$ with a bullish hidden divergence and potentially a strong buying action as we could create a double bottom with the lowest price of 2018-2019. I expect at that point a potential reversal of the trend, either significant or one that smash the diagonal resistance, in both cases we have an interesting % to trade in. If we go up from the actual price (3600$) until the diagonal and break it, ignoring the bearish divergence that will probably form at that point, we have chances to keep going up from there.
BITSTAMP:BTCUSDLong
by mistermint
1