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Diamond Bottom or Diamond as a continuation pattern?

Diamond Bottom or Diamond as a continuation pattern?

Postby Cobra » Wed Sep 16, 2020 5:00 pm

AAPL and GOOGL probably are building a diamond bottom on the daily chart. In theory, diamond bottom has 74% chances to reverse up so it should be a bullish pattern here. But, I don't know, I just feel diamond usually is a continuation pattern so the chart should be bearish. So put this here to see which one turns out to be true: The theory or my feelings.
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Re: Diamond Bottom or Diamond as a continuation pattern?

Postby Cobra » Thu Sep 17, 2020 3:12 pm

Well, it is a diamond bottom as a continuation pattern. &GOOGL is very clear. &AAPL not very so could be other pattern unless continue down from here.
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Re: Diamond Bottom or Diamond as a continuation pattern?

Postby Cobra » Fri Sep 18, 2020 4:03 pm

So $AAPL and $GOOGL now clearly are diamond as continuation pattern. In theory diamond is only in the middle of the down hill. Let's see.
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Re: Diamond Bottom or Diamond as a continuation pattern?

Postby Cobra » Mon Sep 21, 2020 4:44 pm

So now we know the power of diamond as a continuation pattern. $AAPL made a good looking bullish reversal bar today plus the Friday's volume surge, maybe in for a short term rebound first. $GOOGL was a perfect diamond as a continuation pattern as diamond usually means in the middle of the hill.

aapl.png

googl.png

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