Diamond pattern is presenting itself in a minute time frame, therefore we cannot really know how effective this pattern is at this point in time.
DEFINITION of 'Diamond Top Formation'
A technical analysis reversal pattern that is used to signal the end of an uptrend. This relatively uncommon pattern is found by identifying a period in which the price trend of an asset starts to widen and then starts to narrow. This pattern is called a diamond because of the shape it creates on a chart.
The signals for both ST and R is in an upward bias, so I am inclined to stay bullish until we get confirmation to the downside.
SEN: Bullish
ST: UP
PA: UP
R: UP
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