Diamond
a.k.a. Diamond pattern, Diamond top
A rare chart pattern that first widens and then narrows, forming a diamond shape, often at the top of a trend.
In plain English
A rare chart pattern that first widens and then narrows, forming a diamond shape, often at the top of a trend.
A diamond begins with swings growing wider (like a broadening formation) and then shrinking (like a symmetrical triangle). Outlined, it looks like a gem on its side.
At the end of a rise it is usually read as a reversal; mid-trend it can be a continuation diamond. It is uncommon and open to interpretation.
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