Looks promising ...
- #6,463
- Feb 11, 2011 10:02am Feb 11, 2011 10:02am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
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DislikedNice catch!
Simple question for a newbie, why didnīt the diamond break upwards when the main move inside the diamond was down?
Was it because of that it retracted back and touched the diamond border from outside before going further down?
maybe the subject have been discussed in this thread earlier, I am tryin to recap and just reached page 30 out of 431 in this tread.
thanks in advance.Ignored
DislikedHej,
I think main purpose for TA is not to answer the question why, but more likely to when and what price. These formations could be either sign of trend continuation either reversal, also usually it breaks counter the main diagonal...Ignored
Dislikedthanks for fast answer.
Speak swedish?
Of course I dont want an answer of "why", more if there was som technical visual "clue" in the chart which increased the odds for breaking the lower border when the main move was down.
ThanksIgnored
Dislikedinteresting view on EURGBP, on daily/h4 tf, it seems almost symetrical thingIgnored
Dislikedusd index is forming a triangle or even a diamond on weeklies. Diamond have similar angled borders. A chart analysis useful for planing a substitutional trade on usd pairsIgnored
DislikedTwo pure technical setups one on EUR/USD, another one on USD/CAD..Ignored