Posted by timebandit on 6th of Jun 2022 at 04:54 pm
I don't look at them that way. I know Matt has shared a way to
interpret diamonds regarding the configuration of the apexes. I
don't like to get any preconceived notions. I just watch them play
out, sometimes readjusting the formation. When we get a convincing
breakout (unlike the two fakeouts we had today), I bet on them,
because these often lead to strong moves. Not always, usually.
the method I described for diamonds is that generally the apex
that is closest to the right hand side tells you if it is bullish
or bearish biased. So if the upper apex is closed to the right it's
bullish, if the bottom apex is closer to the right than the top on,
it's bearish
again doesn't have to always play out that way so best to
respect the direction of the break
Diamond look on the $SPX
Posted by timebandit on 6th of Jun 2022 at 09:49 am
Diamond look on the $SPX 2 hour. No breakout yet
Diamond still playing out on
Posted by timebandit on 6th of Jun 2022 at 02:29 pm
Diamond still playing out on 2 hour $SPX chart. Readjusted and cleaned up the chart
2 hour $SPX Chart
Nice view
Posted by steve on 6th of Jun 2022 at 03:59 pm
Nice view
Is this a bull diamond
Posted by fredsaid on 6th of Jun 2022 at 04:07 pm
Is this a bull diamond ?
I don't look at them
Posted by timebandit on 6th of Jun 2022 at 04:54 pm
I don't look at them that way. I know Matt has shared a way to interpret diamonds regarding the configuration of the apexes. I don't like to get any preconceived notions. I just watch them play out, sometimes readjusting the formation. When we get a convincing breakout (unlike the two fakeouts we had today), I bet on them, because these often lead to strong moves. Not always, usually.
the method I described for
Posted by matt on 6th of Jun 2022 at 08:04 pm
the method I described for diamonds is that generally the apex that is closest to the right hand side tells you if it is bullish or bearish biased. So if the upper apex is closed to the right it's bullish, if the bottom apex is closer to the right than the top on, it's bearish
again doesn't have to always play out that way so best to respect the direction of the break
I have the same question
Posted by kevindeng0727 on 6th of Jun 2022 at 04:08 pm
I have the same question lol.
very nice chart, I drew
Posted by matt on 6th of Jun 2022 at 10:09 am
very nice chart, I drew something similar on the weekend on the 60 min but didn't show it, looks better now with the morning up candle