Diamondtop
Coinbase: Fifty Resistance in the Metaverse of Financial MarketsThe good news on omicron treatment efficacy resulted in the celebration, and covering, to the upside. The symmetry of supply and demand from Coinbase's All-Time High to its Higher Low begins the next phase, as the world turns focus to inflation.
Coin in 3D - The Market-Verse - Diamond Top ConfirmedCoin has seen consolidation along with BTC and has 4h resistance at the 8 EMA and Daily support at the LBB.
BEARISH DIAMOND ON THE 4HThe Euro had a bit of a rally on Friday however the United states dollar showed sudden pressure on the Euro mid day during US session. This sideways action has formed a clear bearish diamond on the 4H / 240 time frame. Im expecting EUR/USD will test lower support levels next week. The favorable support is 1.1500, we shall see next week but keep an eye on this textbook Diamond bearish reversal pattern.
This Is Not Financial Advice
NAS - Diamond Top - Bollinger in 3DSupported by the 2 hour MBB and testing, price formed a Diamond at the top of a range. Diamonds serve as both continuation and reversal patterns.
BTC POTENTIAL DIAMOND TOP IDEA!BTC is potentially forming a Diamond Top pattern which normally looks similar to a Head and Shoulders pattern.
Either pattern could be in play, with a target of $35,000-38,000. If it plays out could be a great short opportunity.
Let me no your thoughts.
Safe trading.
Massive Diamond Top/Symmetrical Triangle in LMTLMT is printing, and about to complete a MASSIVE diamond top after an 8 year nearly parabolic uptrend netting it over 350% or $345.
The pattern suggests an implied move of about -44% for the symmetrical triangle if it breaks down, and -57% or roughly -$200 for the diamond top.
If Tradingview's Fixed range indicator was working I'd have some volume analysis for you, but just using the visible range there is next to nothing besides air between it and the measured moves and 1.618 extension at $164.97.
ABBV will fly soon..False selling better to catch the falling knife from his handle I can anticipate this is the right handle to take it.
Happy trading.
Diamond Top Break to the Downside?I've successfully traded two smaller diamond formations in the past two weeks, one at the bottom of a local downtrend that broke to the upside and one at the top of a local uptrend that broke to the downside. These have been reliable on shorter time frames. Now it appears we've formed a much larger diamond top here after our weeks-long uptrend. My bias is for this to break to the downside, simply because the smaller patterns have shown reliability for me. It's certainly possible we could break up - but I've closed long positions and placed buy orders at likely targets near 40k and 44k.
Hourly BTC Diamond Looking For Breakdown at 1.13 Fib Extension We have bearish divergence and RSI and MACD so my bias is to the downside.
diamond top to tis years lowsdiamond top to tis years lows to 32.50 to 33.50 range.
first sign that pattern will break is swing high not reaching pattern trendline we can confirm that tis is swing high from oscillators both are pointing down.
BTCUSD Bearish Diamond Pattern: is it a start of bearish market?What is a Diamond pattern?
A diamond pattern is used for detecting reversals: there are two types of diamonds:
Bullish diamond - can be found on downtrends and shows a possible reversal upward
Bearish diamond - can be found on uptrends and usually signals for an upcoming major correction
Once rightly identified, it is one of the most profitable patterns for using reversals for trading strategy. Diamond chart formation is a rare chart pattern that looks similar to a head and shoulders pattern with a V-shaped neckline. Diamond chart patterns usually happen at market tops. This pattern occurs when a strong up trending price shows a flattening sideways movement over a prolonged period of time that forms a diamond shape. Detecting reversals is one of the most profitable trading opportunities for technical traders. A successful trader combines these techniques with other technical indicators and other forms of technical analysis to maximize their odds of success.
Does it mean we bearish market starts soon?
Diamonds shows high probability of reversal only at long-term timeframes such as 1D and higher. Currently we detected the Diamond patter on 1H timeframe chart which has a small trend continuation probability.
If you take a look at 1D timeframe chart there is an imperfect Diamond pattern formed on uptrend price action.
Due to imperfections of the formation the probability of starting global bearish price action is low. However a downward cross of Stochastic Oscillator lines combined with Diamond chart pattern formation on 1D and 1H signals that correction is coming. Bitcoin can retrace to $47 865 level
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Diamond Tops are a Short's Best FriendI'll let the formations do most of the talking. The diamond tops are some of my favorite technical chart patterns, but this comes with a couple added points:
Break the area of support on the Diamond's right side
Must have a lot of volume after breakthrough
Some important news backing the move
Declining Momentum indicators or crossovers are a bonus
I wanted to pull up $BA as an example of the diamond top. The incredible short came with COVID as well as MAX8 restrictions imposed on their products. We may not see the same pull back in ETSY (I don't think we will.... but in this market who knows), and with earnings coming up, this is the news to run back some wins on the COVID hot stocks.
From the run up, the diamond bottom is riding perfectly on the first support of a fib extension. If we see a break on the diamond support and the fib extension, we can start to see the market go lower here. Deciding if I want to play earnings or not, I will keep updated
All love and best of luck traders
Potential Diamond 💎 Top on ETHAfter this amazing eth run last days we consolidating between this fib lvls and now we set up a potential Diamond top watch out there is sum 2.8k-3k potential
Diamond Breakdown With TargetsI'm expecting a brief 25-30 percent correction before continued upside. Bearish Profit taking targets will be at around the $6.90 area with Stoplosses above $10.24
I expect that after GEL retraces back down to the $6.90-$6.40 Levels that it will continue it's uptrend:
For bullish Targets on GEL refer back to my original Bullish idea on the Related Ideas tab
$SPY - End of the road Bull run is coming to an end, even if it's only temporary. Diamond top leading to dump across multiple charts in multiple sectors. Will continue to add to shorts until we break above downtrend (red dash line).
$EEM dump - pullback is about to become way more pronouncedWatch out for continued pullback amongst many names. EEM looks to be heading to sub-50. #bearlyfe
Diamond dump into S wave
BTC Bearish Diamond Top Pattern Forming???Bearish Diamond Top Pattern possibly forming from ATH to test several support levels below.
It may be a good time to short and accumulate more.
The weekend is here and you know how it goes with Bitcoin! You just never know.
Have a good one!
GRPN Entry UpdateProvided the link below to the original trade plan.
Looking for entry break below $59
Dow "Diamonds" Jones is Forming Something SpecialI do not believe that I have seen such a sequence of diamond patterns, such that, they form an inception diamond top (i.e. a diamond top within a diamond top).
Moreover, the diamond bottom pattern is an even more bearish sign than the diamond top. Maybe all the bearishness cancels out and the Dow rips higher.
More likely though, this will end in a violent selloff.
-ArizonaDiamondPigs
TVC:DJI
CURRENCYCOM:US30
