On the Weekly timeframe, I've noticed a gap: the 3rd Touch of the Megaphone Top Pattern is missing.
Additionally, there's a Broken Trendline awaiting its Missing Retest. This zone has caught my eye, and I'll be targeting it for a potential long-term BUY trade.
For my Sniper Entries I will be looking for Bullish Correction on the lower timeframes such as H4 and H1
Folks,
What about REN... To my surprise not only the technical looks great but also the fundamentals in the essence of the TOTAL supply of tokens.
Check it on coin market cap and you'll see the total supply is fully diluted.
The Megaphone pattern normally forms after major market moves and is a projection of a market that is out of control and unusually...
The price of the oil got rejected 3 times and in 4th time got some consolidation and broke the upper side resistance around 66.00. We can see a megaphone structure (Bullish megaphone structure).The retest of the upper side trend line will be a good entry point. Expected target would be 70.00stope lose can be placed below 65.00 level
How high could it fly? Expecting 4130-4144 tar. Maybe it already topped? We'll soon find out!
The megaphone is ominous, could get correction back to support at 3800, or less, if it plays the horn.
Not investing advice; trade at your own risk; GLTA!
Quite incredible, that despite recent rally in stocks, megaphone setup still remains valid and could be in play for TVC:SPX
For almost two months now index is moving allong resistance and having hard time to break it out to the upside.
Higher levels definetely possible, but I would be more concerned with taking profits and buying protection right now.
TVC:SPX went below February highs and broke down key support levels.
If megaphone is indeed playing out, we are just at the very beginning of the move down.
"Buying the dip" might lead to some very negative surprises at the moment, so extra caution is required.
