![]() The breakout is usually accompanied by increased volume, which confirms the validity of the pattern. The diamond pattern can be bullish or bearish, depending on the direction of the breakout point.Ī bullish diamond chart is created when the price breaks out to the upside, and a bearish diamond pattern chart is created when the price breaks out to the downside. ![]() The pattern is created by two converging trend lines that form a symmetrical triangle. The diamond chart is a reversal pattern created when an asset’s price moves up or down in a zig-zag motion and forms a diamond shape. What is Diamond Chart Pattern? Photo: Asia Forex Mentor Comparing Diamond Pattern to Head and Shoulders Pattern. ![]() In this expert guide, we will learn everything about Diamond chart formation, bullish and bearish diamond patterns, and more. With 20 years of trading experience, Ezekiel has mentored thousands of students from different countries and transformed their lives financially. Ezekiel is the CEO and Founder of Asia’s Largest Forex Education company – Asia Forex Mentor. To better understand the Diamond chart concept, we have got Ezekiel Chew to share his take on the diamond chart patterns and how to trade it. It precisely forecasts approaching shortfalls and retracements with the corresponding accuracy. At significant advances, the diamond top is generally observed. It is present in the currency market and other markets such as stocks and commodities. The diamond chart pattern is a relatively new addition to technical analysis but has quickly become a favorite among traders. However, these traditional patterns have suppressed the diamond chart pattern. The ultimate goal was to predict future price movements so they could buy or sell at the right time and make a profit. The #1 Forex Trading Course is Asia Forex Mentorįorex traders have used simple price patterns for years to create effective and profitable trading strategies. Want to jump straight to the answer? The best forex broker for traders is Avatrade ![]()
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