Megaphone pattern on SPycurrently short w/ a target of $192 on SPY after viewing this megaphone pattern
Megaphone
GD-160411-CCI/RSI-G1D-SHORTNYSE: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
GD-160411-STO/MACD-G3H-SHORTNYSE:GD meaby is developing a megaphone structure, the Stochastic indicator show a turndown.
SPX500 MEGAPHONECurrently watching for a break out from this megaphone, daily candles leaning to lower prices
CSCO walking with DanteWe 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.
GBPJPY 4hr BreakoutsThis 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 trading plan.
Best of Luck if anyone is still short on this pair.
Opportunity (to add more positions) for a short?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!
