Diamond Top Formation on XAUXAG Chart

Diamont Top Formation

Diamont Top Formation

The Diamond figure is a rare graphical model in technical analysis and especially in Forex market. Sometimes it is called Diamond Pattern. The structure of the Diamond shaped pattern has the exact form of the precious stone, from here comes its name – Diamond.
In case of its right identification Forex trader can make quite huge profits.

As a classic graphical figure the shape of Diamond is formed from divergent and convergent trend lines, which are parallel to each other.

Recently the current figure could be noted on 4-hour graphic of new instrument XAUXAG, which is gradually becoming more and more popular among Forex traders.

Diamond Pattern by NetTradeX

Diamond Pattern by NetTradeX

At the end of 2012 the prices of Gold and Silver remarkably fell. The descent of metals have started since the beginning of October: Gold fell from 1795.78USD to 1625.80USD per ounce, and Silver fell from 35.36USD to 29.21USD. You can find the detailed information about the results of the investigation on IFC Markets Forex Broker Company, which offers a unique trading instrument, XAUXAG. Traders do not need to make transactions on pairs XAUUSD or XAGUSD, they can trade with XAUXAG (Gold versus Silver).

Anahit Stepanyan

Anahit is one of our content writers. She is notorious for her tendencies of writing in detail and precise articles. She is always very attentive with the details and will never write something if not sure that it is a fact. Her writing style is very unique and fresh, thus interesting and always informative. She is very lively and happy going person.

Leave a Reply

Your email address will not be published. Required fields are marked *