I'm still waiting for a downward break but it's far from certain. In this case the diamond is bearish (being a continuation pattern).
All in all, lately I have seen a lot more bearish signs than bullish so lets see if they end up paying off. I am still holding my shorts from two fridays ago on the basis that they will hit the first two targets or get reversed for a long journey up. Pro stops will come into play when we get the next wave down (i.e. breaking that daily trendline).
Also notice the rounding top on this chart. A sign of a trend reversal with a head and shoulders sitting on top.
All in all, lately I have seen a lot more bearish signs than bullish so lets see if they end up paying off. I am still holding my shorts from two fridays ago on the basis that they will hit the first two targets or get reversed for a long journey up. Pro stops will come into play when we get the next wave down (i.e. breaking that daily trendline).
Also notice the rounding top on this chart. A sign of a trend reversal with a head and shoulders sitting on top.