After The Impulsive Wave A We Witness Diamond Shaped Diametric As A Wave B. Now A Days We Are Witnessing Lots Of Newly Formed Pattern,Major Reason Behind This Newly Merged Pattern In Change In Human Psychology As Well As Algorithmic Trading (Auto Trading).
We Will Discuss More About Diamond Shaped Diametric.
Initial Watch :-
Positive :-If XAU/USD Is Able To Hold 1321.81/1317.35 Then We Will Witness Upside Like 1334.60/1339.06
Negative:- If XAU/USD Is Not Able To Hold 1321.81/1317.35 Then We Will Witness Minor Downside,If Cross Daily SAR Value Then Short Term Weakness Will Come.
For Intraday Update - Click Here
Thank You.
Happy Disciplined Trading.
We Will Discuss More About Diamond Shaped Diametric.
- Sir Glenn Neely Experienced First Diametric Formation In 1991.
- Diametric Is Standard Corrective Pattern.
- Diametric Can Occur Anywhere Where Other Standard Patterns Forms.
- Diametric Cannot Occur As Wave 1,3,5 In A Trending Impulse,Nor In Wave C Of Flat Or Zigzag.
- Diametric,The General Rule Is Most Wave Segment Tends Toward Equality In Time,But Are Different In Price.
- For Time Similarity To Be Most Obvious,The Complexity of The Diametric Should Not Exceed 55 Monowaves.
- Price Wise Wave-G Has Relationship Of Equality Of Fibonacci Ratio Of 61.8 With Wave-A.
Initial Watch :-
Positive :-If XAU/USD Is Able To Hold 1321.81/1317.35 Then We Will Witness Upside Like 1334.60/1339.06
Negative:- If XAU/USD Is Not Able To Hold 1321.81/1317.35 Then We Will Witness Minor Downside,If Cross Daily SAR Value Then Short Term Weakness Will Come.
For Intraday Update - Click Here
Thank You.
Happy Disciplined Trading.
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