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Is this how we use diamonds?
Like we use the neckline in Head & Shoulder patterns?
I have not seen it before, but it looks interesting.
The Diamond's lines were drawn from the conectionpoint farthest to the left A&B - top and bottom C&D - and farthest to the right E&F.
The "Cutline" (or what we should call it) is then drawn at the diamond's left and right corner.
What I find interesting is that what seems to be a reaction rally stops at the line BUT ALSO that line coincides with all important 78.6% fib retracement level (the stop level for reaction rallies)of the diamond's height.
Coincidence or what?
Anyway, I believe what I see, and what I see, is an end to rising prices.
(The word now is GOLD ;-))
stig
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