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Author Topic: Diamond Tops and Trading Tactics  (Read 2022 times)

Offline free forex

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Diamond Tops and Trading Tactics
« on: January 12, 2019, 10:20:27 PM »
Diamond Tops and Trading Tactics

Diamond pattern forms after an upward price trend. Breakout is upward.
identification guidelines for diamond tops
Prior price trend. The short-term price trend is up just before the formation,
leading to the minor high on the left. Then prices decline and form a
minor low before moving higher again. In late September, prices reach a new
high before cascading downward to finish below the prior minor low. Again,
prices rise up and form another minor high before breaking down through the
upward trend line on the right.
Diamond shape. The fluctuations of minor highs and lows form a diamond
shape when the peaks and valleys connect
Volume trend. The volume trend is receding, especially in the latter half
of the formation when the price is narrowing (and the chart pattern resembles
a symmetrical triangle).
Breakout volume. The breakout volume is usually high but is not a prerequisite
to a properly behaved diamond.
Should you locate a diamond pattern and discover that it may be a headand-
shoulders top, do not worry. In both cases, the formation is bearish. When
such a collision occurs, choose the formation that gives you the more conservative
performance results (see the measure rule).
Support and resistance. Support and resistance for diamond tops commonly
appear at the top of the formation
target price Measure rule Compute the formation height by subtracting the lowest low
from the highest high in the formation. For downward
breakouts, subtract the difference from the location where
prices pierce the diamond boundary. For upward breakouts,
add the difference to the breakout price. The result is the
minimum price move to expect. Alternatively, formations often
return to price levels from which they begin. The base serves as a minimum price move.
Wait for breakout For best results, wait for price to close outside the diamond
trend line before placing a trade signal .
Risk/reward Look for support (risk) and resistance (reward) zones before
placing a trade. These zones are where the trend is likely to
pause or even stop. From the current closing price (before the
breakout), compute the difference between the zones and the
current price. The ratio of the two must be compelling enough to risk a trade.

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Diamond Tops and Trading Tactics
« on: January 12, 2019, 10:20:27 PM »

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Offline Evelina

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Re: Diamond Tops and Trading Tactics
« Reply #1 on: June 02, 2021, 07:48:46 PM »
To do forex business investors should have excellent knowledge of trading. If they don't have it will be difficult to profit. Investors should have vast knowledge on all indicators and tools. After gaining vast Knowledge they should invest in trading.

Offline Ferki

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Re: Diamond Tops and Trading Tactics
« Reply #2 on: June 03, 2021, 08:52:40 AM »
To do forex business investors should have excellent knowledge of trading. If they don't have it will be difficult to profit. Investors should have vast knowledge on all indicators and tools. After gaining vast Knowledge they should invest in trading.


The last 10 threads you posted were all 2 years old or more. Besides, you have only tried to advertise until now. Don't do that anymore, please. I'm watching you.

Offline teddalpiaz

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Re: Diamond Tops and Trading Tactics
« Reply #3 on: August 29, 2021, 05:04:53 PM »
Business tactics are very important to the business platform. Forex is not an easier business platform. Only knowledgeable traders can earn more profits. Traders should practice more and make a business strategy and they also choose a reliable broker like FreshForex which provides the best business tips and also gives higher leverages,  lower margin levels, instantly deposits bonuses, and no extra charge.

 

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