Be safe.
Price has not broken neckline and the neckline is a strong source of support.
Once price has broken neckline, down targets may be valid.
If price breaks the neckline, then possible stop above the neckline.
No recommendation.
Megaphone pattern is a pattern that consists of minimum of higher highs and lower lows.
The pattern is generally formed when the market is highly volatile in nature and traders are not confident about the market direction.
Megaphone pattern is known to give multiple trading opportunities to the trade but will often make 5 swings and break up or down. It does not go on forever and is considered a broadening pattern.
This pattern also can be traded when it fails but is necessary to identify the failure perfectly.
Sometimes only pattern is not enough to take best trading decisions you may need multiple indicators to identify better entry and exit points
Price has not broken neckline and the neckline is a strong source of support.
Once price has broken neckline, down targets may be valid.
If price breaks the neckline, then possible stop above the neckline.
No recommendation.
Megaphone pattern is a pattern that consists of minimum of higher highs and lower lows.
The pattern is generally formed when the market is highly volatile in nature and traders are not confident about the market direction.
Megaphone pattern is known to give multiple trading opportunities to the trade but will often make 5 swings and break up or down. It does not go on forever and is considered a broadening pattern.
This pattern also can be traded when it fails but is necessary to identify the failure perfectly.
Sometimes only pattern is not enough to take best trading decisions you may need multiple indicators to identify better entry and exit points
Comment:
Are we entering a bear market? Comments welcome? Feels bearish to me and buying anything is difficult right now. A bad economy plus a possibly overvalued market do not go together.