Posted by DigiNomad on 4th of May 2023 at 04:12 pm
Let me guess - Investopedia? I only say that because I
made the mistake of telling a client recently that I thought
diamond patterns were almost always reversal patterns, and backed
it up with a screenshot from investopedia......only to have BTC
price break out of the diamond and continue higher a couple of days
later. Ooops
DigiNomad, A chart pattern will not work if a higher time frame
is positioned against it. That might have been the case with
bitcoin. On /ES prices are at support, so a bull flag could and
should work as expected.
I learnt that DIAMOND patterns
SPX 10 min diamond?
Posted by limitless on 4th of May 2023 at 04:07 pm
I learnt that DIAMOND patterns are always reversal patterns.
Let me guess - Investopedia?
Posted by DigiNomad on 4th of May 2023 at 04:12 pm
Let me guess - Investopedia? I only say that because I made the mistake of telling a client recently that I thought diamond patterns were almost always reversal patterns, and backed it up with a screenshot from investopedia......only to have BTC price break out of the diamond and continue higher a couple of days later. Ooops
DigiNomad, A chart pattern will
Posted by junkie on 4th of May 2023 at 04:37 pm
DigiNomad, A chart pattern will not work if a higher time frame is positioned against it. That might have been the case with bitcoin. On /ES prices are at support, so a bull flag could and should work as expected.
Nope. From years of observation.
Posted by tgo5043 on 4th of May 2023 at 04:28 pm
Nope. From years of observation. BTC is a weird asset and doesn't surprise me.