What is the difference between argyle and plaid?
So how is argyle different than plaid? While argyle is a diamond pattern, plaids are a square pattern consisting of right angles. There are a lot more variations of plaids out there, and it’s important to note that not all plaid patterns have those consistent intercepting thin lines that we see in argyle.
What is diamond pattern?
A diamond top formation is a chart pattern that can occur at or near market tops and can signal a reversal of an uptrend. A diamond top formation is so named because the trendlines connecting the peaks and troughs carved out by the security’s price action form the shape of a diamond.
What is a plaid pattern?
According to the classic book Textile Designs by Susan Meller and Joost Elffers, “the plaid is a box layout of stripes, usually horizontal and vertical, and almost always crossing at right angles. … As the fabric is woven, these two systems come together to form a beautiful plaid design.
How do I know what pattern my diamond is?
A diamond chart pattern is an extraordinary pattern which is occasional is nature. It looks identical to head and shoulders patternwith a V-shaped neckline. Diamond chart reversals occur mostly at major tops and with high volume. It occurs rarely at market bottoms.
Is diamond pattern bullish or bearish?
What is ‘diamond’ pattern? A bearish diamond formation or diamond top is a technical analysis pattern that can be used to detect a reversal following an uptrend; however bullish diamond pattern or diamond bottom is used to detect a reversal following a downtrend.
What is a continuation diamond pattern?
A Continuation Diamond chart pattern forms when the price has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend. The chart pattern begins during a downtrend as prices create higher highs and lower lows in a broadening pattern.