October 29, 2010

S&P 500 5 minutes chart with a DIAMOND

  • S&P 500 5 minutes chart with a diamond pattern which is slightly out of shape. But still the pattern touches the trend lines on all sides.
  • Price has entered the pattern from the top trend line. So a break of the support line can be expected for this one. But one has to be cautious because of the time frame, it has come in the 5 minutes chart so reliability is less.

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