Bullish Megaphone Backtest (Update)
Updated
Please Do your DD as this is not a financial advice
The CPI report came in hotter than expected but still seems to be going down now at 8.2 from the June Peak of 9.1. I am reminded at the depths of covid how everyone was negative and bearish but the few who bought then made a lot of gains. I am still cautiously optimistic that this is a back test of the bullish megaphone structure that I posted a while ago and will be looking to see how it holds. However if it doesn't hold this trend line we could be headed for a deeper recession. Looking at the Put call ratio, the Macd, the amount of stocks under the 200 MA, we could have bottomed or nearing the bottom. Please do your own research.
The CPI report came in hotter than expected but still seems to be going down now at 8.2 from the June Peak of 9.1. I am reminded at the depths of covid how everyone was negative and bearish but the few who bought then made a lot of gains. I am still cautiously optimistic that this is a back test of the bullish megaphone structure that I posted a while ago and will be looking to see how it holds. However if it doesn't hold this trend line we could be headed for a deeper recession. Looking at the Put call ratio, the Macd, the amount of stocks under the 200 MA, we could have bottomed or nearing the bottom. Please do your own research.
Note
This seem to be aging well.Note
Note
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Bullish Megaphone.Note
like clockworkTrade closed manually
this played out well
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