This is my prediction on the Kweb! Let's see which direction it is going to take! I will be buying leap options after it reaches my buy point. Important: Stock Market Carries Risk, Be careful where you invest. My ideas are not guaranteed gains.
Almost all the major stock market tops of the past century were marked by a Broadening Top pattern (The MEGAPHONE). It is uniquely characterized by two mirroring boundary lines. The top boundary line is ascending; the bottom boundary line is descending. DJAM is gaining nonstop. Credit: pittpitt123 for noticing something wrong with the DJAM chart!
This is the daily chart of SPY that is displaying, in my opinion, a megaphone pattern that will likely resolve to the downside. As evidence of this being a megaphone pattern is the disjointed trend lines as well as the relatively large volumes that correspond to the "higher highs" and "lower lows." My reasoning for expecting this to be a reversal pattern stems...
RR not amazing, but I think higher probability is for price to go lower before going higher.
Megaphone pattern, bullish on this one but waiting for a breakout of course. Also trade opportunity in 5 min chart, trend continuation after retest of 100 EMA in 1h chart.
Megaphone pattern, breakout out off consolidation seems to have happened.
Looking for a breakout of the megaphone pattern and a retest, but not sure where that will happen, could be just at trend line or 100 EMA in 15 min chart (preferably). Also possible consolidation in bigger chart, but am cautious because of news later today, therefore will just look for a short term trade ( Megaphone ).
ATH ATH ATH ATH ATH ATH ATH ATH ATH ATH ATH
Following recent fears generated largely from Trump's impeachment hypothesis, as we can see from the chart a megaphone structure was formed on this cross, probably indicates an excess of market. We believe, however, that we will have a bullish trend so we are willing to buy, ready to turn in case of breakout below 110 level. Keep track of the levels marked on the chart.
Following recent fears generated largely from Trump's impeachment hypothesis, as we can see from the chart a megaphone structure was formed on this cross, probably indicates an excess of market. We believe, however, that we will have a bullish trend so we are willing to buy, ready to turn in case of breakout below 110 level. Keep track of the levels marked on the chart.
More bullish on this consolidation. This would also be a good trend continuation setup, should it break out to the upside. Target will be old structure.
Megaphone pattern breakout and possible retest.
This could finally be the short term trend reversal, to retest the megaphone pattern in D chart.
Breakout+ retest. Price briefly entered pattern but closed above 100 EMA again. Will watch out for entry, especially at EMA.
Price managed to get back above the EMA in both 5 and 15 min chart.