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.
Consolidated for a bit, but appears to continue the up-trend (in D chart) after this breakout.
Possibly short term trend reversal back to old support to become retest of 4h breakout.
Just some additional confirmation for myself.
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...