Users: Nf6: http://content.screencast.com/users/Jim_Nf6/folders/Jing/media/0b1af74f-34b9-4b7b-9b3e-eacf5f42ad2c/2015-05-31_1013.png

content.screencast.com/users/Jim_Nf6/folders/J...d2c/2015-05-31_1013.png

I don't see a fish. I see higher highs and higher lows in a range.

Comments

Tattoo522Tattoo522
I don't understand Tim's fascination with "Diamond" patterns. His fish pattern on the COMP was originally a diamond, which seem to be his all-time favorite patterns. In watching him here & on TastyTrade for 2+ years now, I haven't seen these diamond patterns play out with any special kind of probability or amplitude of move. I'm guessing that he learned out and saw a few diamond patterns that happened to play out well during his formative years of TA. I've heard that your major wins and losses during your early years can burn an imprint on how you perceive and trade later. 
 
TK- I'm not dissing TA at all and I've used a lot of your TA techniques. I just don't get the diamond. Have you any "expectancy" evaluations on how well those play out for you and whether they are really any better than the topping formation that is probably on the same chart? 5/31/15
Tim KnightTim Knight
Ah, the rewards of blogging. Doing a thoughtful post on a Sunday morning out of nothing but guilt and then being told how wrong I am. 
 
Sheesh. I'm outta here. 5/31/15
Mike1981Mike1981
I have your back Tim. The failure rate of a diamond top is 6% and the average decline after a break down is 21%. About half will have a throw back or back test after break out and the diamond ranks among the top 7 most accurate patterns to trade both tops and bottoms. My fee is about 100k to divulge such research. :) On with the Jesus Fish. 5/31/15