Tuesday, December 11, 2007


Charts can often make your head spin if you spend enough time looking at them. Today I was looking at ICE and seeing a diamond pattern. The pattern can be a continuation or a reversal pattern. If the breakout is downward we have a price target of where the trend started, $128 in this case. If the diamond acts as continuation then half the move can still be ahead, $200 area in this case.
Some help I've found on this pattern is {here} which says "A genuine diamond pattern is signified by a decrease in volume during the second half of the price pattern," which we seem to have.

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