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.
Tuesday, December 11, 2007
Diamond?
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.
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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