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>Just wondering if anyone else has a take on this DJIA Diamond pattern? Is
>it still operative or has it expired?
I draw the pattern a little defferent than you do.
The way I see it, the pattern is complete. And if you look at the right part of the Diamond, we have broken down from the pattern and then returned to test the lower trendline from below, twice. We never closed above the 78,6% retracement level of the CD decline and we had a closing high right at the apex (timewise) and "should" now be heading lower.
Please note that we also didn't close above the all importand 78,6% retracement level of the AB decline either.
Thus this could very well be the end of an ABCDE wave two correction, and we could now be heading for wave 3 down and the fireworks!
(the letters in the gif does not correspond to the possible "ABCDE" correction).
regards
stig
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