Diamond Top
A broadening left half and a narrowing right half after a rise, shaped like a diamond; completes on a close below the lower right line.
Edwards & Magee describe the diamond as a head-and-shoulders top with a bent neckline: the range first widens, then contracts.
Rare and subjective; most "diamonds" fail these checks.
How we define it
- Left vertex: the first swing, near the middle of the price range
- Highest high and lowest low in the middle of the pattern; left and right halves each at least a quarter of the pattern
- Right side: two converging lines from the extremes with at least 2 touches each; no close outside the diamond
- Prior trend up
- Minimum length: 2 months on 1D, 3 months on 1W, 10 days on 4H
- Breakout (up) / breakdown (down): the first candle close beyond the boundary by at least 3% on 1D and 1W (1.5% on 4H)
- Failed breaks: a breakout or breakdown that closes back inside the boundary within 6 candles on 4H, 5 on 1D or 3 on 1W is removed from the list
- Trend filter: breakouts only above the 200-period EMA (40-week EMA on 1W), breakdowns only below it
- Watchlist: the pattern is complete but unbroken and price is within 3% (or 1 ATR, at most 6%) of the boundary
No recent breakout or breakdown
No diamond top has completed recently. See all patterns.
Nothing on the watchlist
No mature diamond top is close to its breakout or breakdown level right now.