Continuation Diamond - Bullish Pattern
PRECOTThe price has broken upward out of a consolidation phase, indicating a likely continuation of the previous uptrend.
Initially, during a downtrend, prices form higher highs and lower lows, creating a broadening pattern. Gradually, the trading range narrows as the highs peak and the lows begin to trend upward.
When the price breaks upward out of the diamond's boundary lines, it signifies the resumption of the prior uptrend.
*Please note I am not SEBI registered, please consult your financial advisor for any trades.
*This chart is only for educational purpose.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.