SKL short to $12SKL formed a diamond and broke it. RSI broke also its trendline.
Targets are $0.126 and $0.12
Diamondpattern
KLCI down to wave E of (Red circled) triangle. 9/May/22.KLCI Index seem like still on its last leg to complete wave E ( Red Circled ) of a triangle /diamond pattern..Where price could reach at around 1490
One way only?1h bullish Diamond pattern. The volume is coming. Wait for volume confirmation and close on 4h or use Stop Loss.
Top around 40400.
It's time to move on?
Diamond Pattern
In a diamond chart pattern, this occurs at the lower right part of the bearish diamond formation and the higher right part of the bullish diamond formation.
Diamond Pattern Stop Loss
It is essential to always place a stop loss whenever you trade the diamond pattern. The ideal stop loss positioning should be above the final peek inside the diamond for the bearish diamond formation. And below the final low inside the diamond for the bullish diamond formation.
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Published for educational, inspirational, or idea-sharing purposes. Not financial advice!
#USDJPY longthere is a strong up-trend in upper time-frame.
in 15m time frame the support line breaked and it seems its a false break that can shape a diamond pattern.
gbpusdlongOne possible uptrend for the pound is the formation of a diamond pattern.
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If this pattern is formed and the initial reaction is appropriate, we can make a long position
Should we expect BTC to breakout (again)Diamond bottom pattern formed. But volatility is very low. Should we expect a breakout of BTC again to test 42300?
$NQ1! Limited upside expectedPossible upside in the indicated triangle within this diamond pattern is expected, but buyers should tread carefully until this index breaks back above resistance indicated with the arrows. Be nimble. Don't fall in love with the upside.
BTC going up or going down?3day chart - small pattern currently a bearish rising wedge setup with 2 days left to close.
key to close above 40,792 for potential upside towards wedge resistance.
larger pattern, potential h&s with a neckline towards lower 3d demand 31,900.
potential diamond pattern as well for upside reversal towards golden pocket. few untested 3d supply above and finally a monthly supply 56K
previous thought about 3 drives still seems valid to me if this diamond reverses to the upside. never textbook in crypto but i've tracked more than a handful of this harmonic
where the retracements overshoots and reaches the target to the dot + downside retrace.
bull case - reclaim golden pocket + diamond reversal - target monthly supply 57k/73K - 49K 3 drives retracement.
bear case - h&s breakdown and retests lower 3d and monthly demand down to 28K possible.
monthly demand - 37,150
3d demand - 39,442
daily demand - 38,891
daily supply - 42,870
4hr supply 40,792
golden pocket 43,488-44,758
ICPUSDT is creating a diamond patternThe price created a falling wedge on the daily timeframe and had a nice breakout from it and from the weekly resistance (21.20$)
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.
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
ETSY - STRONG DIAMOND REVERSAL PATTERN FORMING!! UP OR DOWN?Hey, Hi, Ho, whats up,
Seems to me like we have a pretty decent diamon pattern playing out here after a more than massive drop to the stock. I have found, and its also pretty well recognized that although rare, diamond patterns are extremely profitable if played correctly.
Not only can you flip short exp calls and puts as the up and down waves are pretty predictable - a long call strategy can give you a really great opportunity to accumulate contracts as the price action goes side to side as you wait for the conclusive breakout.
According to the chart the breakout projection is approx $200 which as I have charted it is a key level of resistance/support so that makes sense. Basically its a gap fill of sorts because the price fell HARD from 200 on.
On the flip side if the pattern fails and its just a continuation of the current down trend the price target is $80-$90 area - here's hoping it doenst go this way.
An importnat note for anyone playing options like myself, there is a significant lopsided amount of PUTS being held in open interest from now until Jan 2024 - obviously this can change however I think its pertinent to notate where it stands now.
Price action looks to be topping at this part of the diamond and should roll over down to about $125 by the end of March. IMHO either June 17 or 1/20/23 exp calls are going to be the most valuable
As of today I like:
6/17/22 ($175's and $240's)
1/20/23 ($230 CALLS)
However time will tell and I will revisit near the end of March or when my bottom alert gets triggered, which ever comes first.
NOT FINANCIAL ADVICE.
SAND/USDT: Forming a Diamond PatternThe diamond pattern at the top is a bearish pattern but still, watch for its upward breakout. And aim for $4 at the upward breakout.
$FB Loading up in a Diamond Pattern!NASDAQ:FB
Meta had been consolidating for a few months in a diamond pattern, we do need to wait for confirmation on which way this will break but we should see good movement with volume either direction once the consolidation phase has ended.
USDCAD SHORTThe price in an uptrend, in its last attempt failed to record a new high, and this could be a warning for the return of the trend.
At the moment, the price seems to be forming a diamond pattern which is a return pattern.
If our guess is that the trend is not bullish, we can think of a short trade in the area identified in the recent downtrend with the main support in mind.
USDJPY GEOMETRIC TRADING DIAMONDUSDJPY is trading a diamond pattern on its weekly chart.
The price has hit the 61.8% ab 119.261.
if trend continued to the upside the next target would be 123.459 100% ab
EURUSD GEOMETRIC TRADING (DIAMOND PATTERN)EURUSD is approaching his first target
TP1 1.10036 61.8% BA
EURUSD SIMPLE PRICE ACTION TECHNIQUE USING GEOMETRICWatch out for false breakouts and execute the trade with a trend confirmation
The "Diamond" pattern is very reliable and consists of four-sided price action.
It is also similar to adding two "triangle" patterns, Inverted and Symmetrical, together.
"Diamond" patterns are both continuation and reversal patterns.
If the pattern occurs in the midst of a trend, it will present a continuation of the trend in the same direction prior to the formation.
If the pattern occurs at the tops or bottoms, it will be a reversal pattern.
Trade: In "Diamond" patterns, continuous patterns form more often than reversal formations.
In a continuation pattern, wait for a breakout of the "Diamond" pattern and trade in the direction of the trend prior to the pattern formation.
In reversal formations, trade in the opposite direction of the prior trend.
Confirm breakouts and breakdowns by price-action.
Target: Continuation "Diamond" patterns provide excellent target criteria.
The prior range before "Diamond" formation is the target from the breakout or breakdown level.
In reversal formations, prior major swing highsllows are set as the targets.
Stop: Place a "stop" order above the high of the " Diamond pattern for a short-trade and below the low of the " Diamond for a long-trade.
GBPJPY LONGIn my opinion, the price can reach higher levels.
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We can specify a more accurate entry point by going to the M1 time frame.
BYND may be tapping outI originally thought this was trading in a symmetrical triangle (month view). I discovered diamond patterns. It's making me go hmmmm... What do you think about this idea?
Diamond Patterns signal a reversal:
www.moneycontrol.com
USDCAD GEOMETRIC TRADING DIAMOND PATTERN USDCAD
IS forming a Diamond mid trend or top reversal on its minutes chart.
The price is trading the mid range of the diamond pattern at 50% 1.27506 AB.
The "Diamond" pattern is very reliable and consists of four-sided price action.
"Diamond" patterns are both continuation and reversal patterns.
If the pattern occurs in the midst of a trend.
It will present a continuation of the trend in the same direction prior to the formation.
If the pattern occurs at the tops or bottoms, it will be a reversal pattern.
Diamonds patterns can be trade both directions after the breakout levels.
If the diamond pattern breaks above 1.27832, them will be looking at TP1 1.28233 61.8% AB and TP2 1.28479 100% AB.
If breaks below 1.27186 them we will be looking to target the downside TP1 1.26791 61.8% BA and TP21.26544 100% BA
STPS will be placed above/below the high/low previous to the breakout.
SPX500 GEOMETRIC TRADING DIAMOND PATTERNSPX5OOUSD has formed a geometric pattern diamond top.
The price has broken the entry level 4427.7
TP1 4391.8 61.8% AB
TP2 4369.0 100% AB
TP3 4330.8 161.8% AB
STANDARD LITHIUM LTD -D1-DIAMOND !Looking at the DAILY picture, a "Diamond" pattern is in progress and is currently trying to upside breakout the downtrend resistance line of this bullish pattern.
Last but not least, the Kijun-Sen or Base line also coincides with the upside breakout level of this Diamond pattern, which if broken would also give, an additional
confirmation signal, calling for further upside.
TECHNICAL TARGET OF THIS DIAMOND PATTERN IS @ 9.52 or roughly the Daily top clouds resistance area !!!
WEEKLY (W1)
Weekly clouds hold and rejected, for the time being,several successive downside breakout !
A weekly closing above $ 7.03 would be very positive and would open the door for higher levels.
Next target being @ $ 7.66 ahead of the cluster @ $ 8.83 - $ 9.00
On my own account I would put in place a Risk Reward ratio of 1:3 !!!
Ironman8848. & Jean-Pierre Burki
ETH is forming diamonds bottom patternETH is consolidating and forming a potential Diamonds bottom pattern. Watch it closely.
Entry only at breakout
Don'f forget to set stoploss
Happy trading!!
