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...
A megaphone pattern is emerging very clearly on the 30min chart. Since I'm already short I'm gonna add to my positions at the top of it. I really wanted to bring it every ones attention in case they find it important rather than as a trade idea as such. Good luck!