We've been watching the megaphone pattern for months now. (see previous posts) We are playing with the upper megaphone trendline now.
This week we may see the "breakout that most traders have been waiting for".
It should make make us feel that we are gonna go way higher and that we've finally broke out of the consolidation that we've been in for 2 years since the Jan 2018 high.
However when most traders are convinced that the market is strongly bullish, is typically when the "rug pull" could actually happen.
We'd like to sell short at the upper limits of the Bearish crab pattern shown. This low risk area may be far enough above the "Megaphone Pattern upper trendline" to convince the bullish traders that they are correct....
Yet the market has a high probability for a reversal.
Lets see if we can get another buy the dip and rally higher again, cementing the traders views before the market reverses back down again.
This week we may see the "breakout that most traders have been waiting for".
It should make make us feel that we are gonna go way higher and that we've finally broke out of the consolidation that we've been in for 2 years since the Jan 2018 high.
However when most traders are convinced that the market is strongly bullish, is typically when the "rug pull" could actually happen.
We'd like to sell short at the upper limits of the Bearish crab pattern shown. This low risk area may be far enough above the "Megaphone Pattern upper trendline" to convince the bullish traders that they are correct....
Yet the market has a high probability for a reversal.
Lets see if we can get another buy the dip and rally higher again, cementing the traders views before the market reverses back down again.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.