Continuation Diamond Bearish is similar with Diamond Top. They are bearish pattern signals. They occur when the next peak is higher than last peak, then you can see the next bottom. After the signal begins showing itself, the trading range becomes narrow. You can start to draw the 1st trendline. The pattern occurs when the price breaks downward out of the the diamond but out of the diamond formation to continue the downtrend. Because this pattern shows the small range, traders should watch out with the time frame. You can use the bigger time frame, such 5 minutes or 15 minutes. It is more useful then you read it in 1 minute.
1st line |
3rd line |
2nd line |
4th line |
break out |
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