Get started

Diamondpattern

NASS100USD DIAMOND PATTERNby Constantino CM 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. Diamond "tops" form more often than Diamond "bottoms." 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.
OANDA:NAS100USDLong
by TradeChartPatternsLikeThePros
1
NASS100USD DIAMOND PATTERNNASS100USD Has takeout the top of the Diamond at 15615.3 price is trading the low of the diamond at 15568.6 trade will be execute once price break the low of 15568.6 with a downtrend conformation 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. Diamond "tops" form more often than Diamond "bottoms." 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.
OANDA:NAS100USDShort
by TradeChartPatternsLikeThePros
NASS100USD DIAMOND PATTERNWatch out for false brekouts and enter 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. Diamond "tops" form more often than Diamond "bottoms." 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.
OANDA:NAS100USD
by TradeChartPatternsLikeThePros
EurChf buy DEBUNKED (Buy)Hello traders Back with my diamond patterns. Today we will discuss about EurChf buy. Here we can see EurChf is in a diamond pattern with an embedded triangle. The triangle created 2 waves on the left side. An inverted small V-wave and a regular/larger V-wave. Clearly price is in the other half of the formation and now it looks like the first wave is completing(should be completed by end of the day or tomorrow. And the other wave is yet to form. From what I can see this is a 4hour time frame chart. If you go for this trade you should aim to take profit on the top of the second wave and short it right away. *Do not increase your risk size, use same risk*!! Good luck if you take this trade. This isn't a financial advice, just a guide and opportunity that has presented it self. Use sensible risk please!! Good luck follow me for more future analysis!! Thank you
Long
by kenzima44
5
usdcad diamond breakout soon.UsdCad has been in a diamond price formation and due for a breakout soon. Since USD is very bullish recently, I predict a bullish breakout and retest on the diamond structure.. then resume the price channel created in the diamond structure. This is a daily time frame so you will have to use a lover time frame for a buy entry. But it is sitting on a strong support now so there is a very good opportunity. *I only try to identify chart patterns, it's up to you to make your decisions whether to buy or sell. Good luck to everyone. Follow me for more patterns early
Long
by pipo99
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