Potential Diamond Top $SPY
Potential Diamond Top
Invalidated with a close above 284
Great risk/reward area here
Diamond tops are infrequent but are like the Head and Shoulders pattern little brother
The peaks are higher on the left & the troughs are lower on the right.
You can see that in the RSI negative divergence too
Then the trendlines form together in a shape of a diamond💎
Invalidated with a close above 284
Great risk/reward area here
Diamond tops are infrequent but are like the Head and Shoulders pattern little brother
The peaks are higher on the left & the troughs are lower on the right.
You can see that in the RSI negative divergence too
Then the trendlines form together in a shape of a diamond💎
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