Running Flat or Expanded flat
So we have been stuck in this reverse triangle or megaphone for a while now. This pattern suggests shift of power between bears and bulls within the triangle causing it to make higher highs and lower lows. It’s a nightmare to trade for new traders. Megaphone pattern is complete and market is supposed to take direction of B wave. we have just completed a leading diagonal as a wave. After wave 1 abc correction in progress where B has gone 1.23 of A which means it will either be running flat or Expanded. Am leaning towards running flat. Running flat will meant strength in bearish trend. In any case we are heading lower and lower…
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