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
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I don't look at them
Diamond look on the $SPX 2 hour. No breakout yet
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