The NQ is making a broadening top pattern. This is not a bearish or bullish pattern, since it trends upward 49.6% of the time and downward 50.3% of time. It has a nice look, where price was trending upward 6 months leading into the pattern, with downward sloping volume. To pick a top in this market is dangerous, with the low volume grind. I am looking for clear...
Bitcoin is at a yuge Harmonic and Elliott Wave reversal zone. If this breaks up about 100 more dollars and can stay above that resistance zone , then it will become a support zone and the trend will likely continue up from there, possibly to 1500 usd. If the bears can hold this resistance zone then Bitcoin will likely continue the megaphone pattern that it is in...
EURUSD has formed a Megaphone pattern, I have entered another additional position, target 1.1045, entry size triple tan usual.
I am seeing 2 windows recently closed and a third on the way at 204.28. Also a downward megaphone. 60min chart
I have no experience with this pattern, will be interesting to see if it comes to fruition. Long at 3500 horizontal as well
This is a Bullish megaphone, but we're in a heavy down trend. Price is bouncing off the megaphone trend lines really well. Price is entering a very bearish zone. I'm looking to get short around 111.42-111.70, I want to see a bearish candle with some follow through. Once short I would keep my stop around 112.10, just above the swing high. Looking to take profits...
Confirm sell signal on daily. short Bank stocks Money flow breach
currently short w/ a target of $192 on SPY after viewing this megaphone pattern
NYSE:GD meaby is developing a megaphone structure, the CCI and the RSI confirm how is involved in a downtrend. (this is clear in price chart) Target 1: 0.23 fibo almost 125.7 usd
NYSE:GD meaby is developing a megaphone structure, the Stochastic indicator show a turndown.
Currently watching for a break out from this megaphone, daily candles leaning to lower prices
We can see how the CSCO was fill the megaphone, now is show an inverted hammer. I observe two posibles scenes: Don't cross the diagonal support at 24.06 and continue the journey to the sky Yes... cross the line and fall to the hell to 18.06 and maybe more I prefer think in the first scene, short only to 08/16. But only time will tell.
This is an UPDATE to the short I called out a couple weeks ago and still hasn't hit Target #1 yet. We have ran into the Major Trendline this morning, which is concerning to me. We are putting in the Alligator's Mouth or Megaphone type Pattern. These typically result in a Major Breakout once price gets outside of the range. Still holding onto my short per my...
The S&P has been widening it's range, and just today reached the lower channel trendline of this expanding wedge. This is a bullish pattern, and I'm looking to a pull back in the next few days to the upper trendline, and perhaps a breakout of the channel to the upside. If this pattern fails, this is extremely bearish, with huge downside consequences. This is...
Yesterday's session and continuation through the evening produced a large megaphone who's function is to clean out stops on both sides of the tape before embarking on a larger directional move. Count wise there is no material change while price remains between magenta 2/B and (1)/C. While there is room for some near term upside, our overall stance is for more...
While we're still working on the market structure projections for tomorrow, I wanted to point out a pattern that presents itself at points prior to a more substantial move. These broadening formations are by nature designed to clean out the stops of both participants leaving the least amount of individuals as the more begins, but gains strength as previously...