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Diamond Forex Pattern

Diamond Forex Pattern

The diamond formation tends to occur at the top of the trend. The price activity may be outlined by a shape resembling a diamond. The increase and decrease in trading volume closely mimic the combination of divergent and convergent support and resistance lines(see the Figure below).

Upon breakout, volume picks up substantially. The price target is the height of the diamond, measured from the breakout point.

Diamond Forex Pattern

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