free forex trading signals from Diamond Tops and Bottoms

Discussion in 'Jurnal Trading' started by frees2020, Nov 28, 2018.

  1. frees2020

    frees2020 New Member

    free forex trading signals from Diamond Tops and Bottoms

    The identification guidelines for diamonds and generate free forex trading signals
    Look for a quick price rise or decline. Diamond tops have prices entering
    the diamond from the bottom and bottoms have prices entering
    from the top. The quick rise or decline, a straight-line run, is key.
    Yes, you will find other diamonds forming as a normal congestion
    pattern, but the ones when prices race forward are easiest to spot.

    Look for prices to broaden out (higher peaks and lower valleys) then
    narrow forming a diamond shape. The diamond usually tilts to one side.

    Price should touch each trendline one or twice, but it depends on
    how you draw the diamond and whether prices cooperate with
    you. Don’t be alarmed about cutting off price tails when you
    draw the trendlines. Sometimes you have to use your imagination to see the actual diamond shape.

    Sixty-six percent have a downward volume trend within the diamond.

    Trading and Trading Tips

    Here are additional trading tips for free forex signals
    • Diamonds with short-term price trends leading to the pattern
    perform better than intermediate- or long-term trends. Diamond
    tops with downward breakouts show the best results: Short-term
    declines leading to the pattern yielded 24% declines postbreakout;
    intermediate-term trends averaged a 22% decline, and longterm
    declines had postbreakout declines of 15%.

    Avoid overhead resistance or underlying support. Diamonds with
    throwbacks or pullbacks have postbreakout performance that suffers.
    For example, diamond bottoms with upward breakouts and
    throwbacks show rises averaging 30%. Those without throwbacks
    climb 43%.

    Select tall patterns for the best free forex signals performance.

    The measure rule for diamonds is no different than for other chart
    patterns. Measure the height (highest peak to lowest valley) and add it to
    the price of an upward breakout or subtract it from the breakout price of
    a downward breakout. A breakout occurs when price closes outside the
    diamond trendline boundary.

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