WEED Price Action AnalysisCurrently in consolidation within the control zone. Watch for a close above $30 to break out into an uptrend or a close below $26.12 for a break out into a down trend.
Megaphone
Silver huge bull setupbroke down from the trend that most would draw and assume a retracement or even bear however, even with a lower break out of the fib channel it will still be within a setup for a megaphone bull break out. Elliott wave analysis of the megaphone happened to be aligned with a 50% retracement of the December run at the end of wave 4 though this wave passes through the 38.2% at the bottom of the fibs channel meaning it might get stopped out short of the full 50% retrace. The end of Wave 5 indicates a decisive moment for longer bull or bear move however, the bull megaphone pattern combined with the longer timescale wave 5 of the channel/pennant also ending within margin of error at the breakout point does lean towards a further break of the much longer timescale pennant putting targets way up to $2500.
DXY possible support on megaphone supportPrice has been range bound for a while forming a megaphone pattern.
Closest area for a retrace up is imminent if it is going to happen and should be quite aggressive price move.
However, price will fall much more if it breaks down out of this megaphone pattern.
Megaphone Top On S&P 500This 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 from seeing bearish divergence in a number of indicators- the daily chart displays a bearish cross in the True Strength Indicator and the picture that I've included also shows a bearish trend in the TSI.
EURUSD megaphone pattern potential shortRR not amazing, but I think higher probability is for price to go lower before going higher.
HOW TO TRADE "MEGAPHONE PATTERN" ?This pattern is very simple to trade and often it has a good R/R Ratio....
A SIMPLE EXAMPLE:
(Click and Play)
R/R RATIO
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AUDJPY Megaphone PatternMegaphone 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.
EURUSD Megaphone 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 ).
bitcoin ascending triangle and megafone broadening wedge
ATH ATH ATH ATH ATH ATH ATH ATH ATH ATH ATH
USD/JPY ready to restart?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.
USD/JPY ready to restart?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.
NZDUSD Breakout Seems ImminentMore 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.
EURJPY Triangle This could finally be the short term trend reversal, to retest the megaphone pattern in D chart.
GBPUSD Megaphone Update Breakout+ retest. Price briefly entered pattern but closed above 100 EMA again. Will watch out for entry, especially at EMA.
GBPUSD Consolidation / Megaphone Breakout+RetestConsolidated for a bit, but appears to continue the up-trend (in D chart) after this breakout.
AUDUSD Megaphone Breakout Possibly short term trend reversal back to old support to become retest of 4h breakout.
