Diamond pattern is considered to be reversal pattern.
However, from EW perspective, Diamond pattern normally occurs in wave B and therefore, their position will define whether it is a reversal or continuation pattern.
In the current set-up, since the long term picture is bullish, we are inclined towards considering the diamond pattern as reversal pattern for targets of near to 1400.
Let us see how this develops.
However, from EW perspective, Diamond pattern normally occurs in wave B and therefore, their position will define whether it is a reversal or continuation pattern.
In the current set-up, since the long term picture is bullish, we are inclined towards considering the diamond pattern as reversal pattern for targets of near to 1400.
Let us see how this develops.