Diamondpattern
Quick Daily Dow Decision DiamondWhile the interwoven diamond pattern is a strong bearish signal, it does not actually provide strong guidance as to the very local direction of the next miny-swing in the DJI.
It seems that we will either test that upper trendline once more (as would be consistent with the past year of whipsaws), or, we do not.
I have a strange feeling it will not and the red path displayed will set fourth the new Dow trend lower.
The difference is sort of semantic - but it does highlight the "rigging" type nature that markets exude during market "crashes."
-4-D Pig
DJCFD:DJI
GLOBALPRIME:US30
DJCFD:DJT
NASDAQ:NDX
SPCFD:SPX
DOGE Diamond ReversalHope you took advantage of Doge which I made a post back on January 9th.
I labeled this neutral as it will likely go up resulting in a bear trap. All of you out there quoting 10-14 cents be careful. I see this coming down to the 4.4 cent level, which would be a great place to step in for a good sized bounce.
It's been a fun ride but all good things come to an end. Best to look at other opportunities for now.
Remember this is only my formed analysis outlook. This is not an endorsement or recommendation to buy or sell.
#SP500 - 4 Hour We have a diamond pattern on the SP hourly which could signal that its a "continuation" formation or a short-term top .
- Break below 3784 opens a short trade targeting 3754 then 3735 (counter trend)
- Above 3820-3830 opens futher upside to 3863 then 3881
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Huge Weekly Diamond Top Formation On AMZN.Amazon has developed a Diamond pattern that's visible on the daily and weekly TFs Diamond patterns a neutral and can break out in either direction but looking at the price action AMZN has shown within the pattern gives me somewhat of a bearish bias as it looks toppy so I will be playing this to the short side I have the short setup plotted on the chart.
$LTCUSD - Possible short setupHello everyone!
LTC as we all know is one that mostly shows surprises when the market is calm, just like today when the market is bumpy and some alts are gaining heavily, LTCUSD remains steady.
Wave theory and Fibonacci applied on the chart demonstrate that Litecion might drop lower, although there is a support which is holding it from doing so and there is a possible diamond pattern, I suggest to short when the dynamic support is broken and long only above the 158.