How To Trade Diamond Chart Patterns

Contents One High Probability Day Trading Pattern: Abcd The Bat Pattern Bullish Alternate Bat Pattern Diamond Pattern Trade Entry Bullish Three Drives Pattern The Butterfly Pattern The correction should ideally retrace to either a 0.618 or 0.786 which sets up a point D that is either a 1.27 or 1.618 of the BC correction. A 0.618 retracement at the C point results in a 1.618 BC projection. A 0.786 retracement at the C point results in a 1.27 projection to point D. The pattern starts with a downtrend which comes to exhaustion and draws zigzag like corrective movements. A pattern is simply a recognizable configuration of price movement. The CD leg usually terminates at 1.27 of the XA leg but […]