PINS- Megaphone pattern ideaAn idea for next week.
Although time continuity to the up side the general market is iffy right now.
Megaphone
Bulls have control (AAPL)If I have a choice between giving good and ehh news first, I always pick the good news: the good news is that the stock just broke two long term resistance lines(RLs). The ehh news is that up ahead, AAPL could see increased volatility as it is now trading in a megaphone pattern. The RSI indicates much of the same; a breakout leading to a broadening megaphone pattern. However, I remain firmly bullish, but because if AAPL broke past the third RL it would have been too good to be true. Look for AAPL to bounce off last week’s support line, and it should retest the third long term RL. To accurately predict when another breakout will happen, look for contracted volume/ volume cluster (which I have circled for Last week’s breakout), and watch the RSI as well. However, in the case we see another steep drop off in price and RSI, I would keep a neutral outlook. Feel free to comment with stocks for me to do chart analysis on!
S&P is at the top of the megaphonethere is three possible scenarios :
-first one it fall until it reach the major first support and rebound on it to retest the high of the megaphone (70% probability)
-second one it fall and break the major support (last ATH)and keep falling until reaching the down trendline of the megaphone (20% probability)
-third one it breaks up the megaphone and keep rising until reaching an undetermined level (10% probability)
make your bet. personally ill wait until it reach the major support and see the price reaction before taking the decision to short or to buy
AUDCHF wait for the break of range (Weekly/Daily) 🦐On the weekly chart AUDCHF has been inside a megaphone pattern which normally is a continuation pattern.
Market hit the lower trendline before starting to rise up.
We can clearly see that the market is moving inside a range between the 2 weekly structures.
If the market will break below the structure, as we expect, we can look for a short position according with our strategy.
IF the market will break above the upper structure, we can foreseen a test of the upper megaphone trendline, so we will be ready for a long position.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Megaphone inside a MegaphoneTF: 15 min
double trouble megaphone on the 15 min. Looking for a bit more upside.
$HD megaphone top with RSI divergence$SPY $AAPL $SPX $QQQ $HD Picked up some September EXP puts on $HD because of this Megaphone top + RSI divergence.
ETH fractaling inside huge MEGAPHONE. Indicators signaling DOWN.1. bearish RSI div
2. bearish MACD div
3. longer trendline resistance (broken with possible fake out. other trendline is not yet broken, and is forming a megaphone pattern)
4. megaphone pattern (usually a bearish pattern but could brake out either way. Expect very volatile price action very soon)
5. megaphone fractal within a huge megaphone (it should be interesting to follow the price. If smaller one resolve bearish, it could drag a bigger one very fast very low, and vice versa)
6. fib retracement of .618 & .786 which is usually a location for a trend continuation
7. long term downtrend - series of lower highs and lower lows. (even if ETH broke out of the trendline and created a small w pattern, which is known as a double bottom, on a bigger scale, it hasn't formed yet on a higher time frames)
So if I have to bet, I would bet down, as long as the long term bear trend resolve itself, but for now, location is very good for bears. I expect them to show up very soon, but if they don't show up, bulls won't hesitate a second to take over.
UPDATE!! SHORT NZDJPY inside a megaphone range 🦐After our last call on this pair the market hit exactly where we expected and went back down.
Now the market could give us another opportunity to enter.
IF the market will manage to break the structure in blue and close the 4h candle below it we can look for a nice short order according to our strategy.
For the one that already are in since our last call you go risk free on the trade.
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Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
NZDJPY inside a megaphone range 🦐 On the daily chart the market is inside a megaphone since 2018 and recently just hit the upper trendline where it started the downtrend.
The price is now currently retracing and will probably hit the 0.382 at the resistance structure.
If the market will give us bear signal at the resistance we can look for a possible short according to our rules.
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Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
CHFJPY Mid-Term Bullish ViewTF: 8 HR
CHFJPY looks like it may have a nice up trend in the coming weeks. Some reasoning behind my view:
1. Price is currently forming and trading within a in a bullish descending wedge/megaphone pattern on the 8 HR time frame.
2. Along with this descending pattern, a inverted H and S pattern seems to be forming with it currently forming the right shoulder to potentially complete the pattern.
3. Bullish divergence can be seen on both the stochastic and RSI
I am planning to start opening small positions and build into a larger one once the price breaks the descending pattern and confirms. I am looking to build into this over the next few weeks.
Bitcoin Megaphone Bottom IdeaA potential roadmap to keep an eye on, especially if S&P 500 starts breaking down
SPX might top 1 month prior to US elections?hello traders,...
to the point: FA and TA so far confirms it, it looks like it is in megaphone Top pattern, but that doesnt mean it cant be bulish till 1 month prior to elections and print a new high ....
no entry, but i had to do this analise bcs it reflects the crypto (or did), so why not make it public,
hope u find it usefuel
GBPCHF is forming an expanded triangle 🦐GBPCHF is forming an expanded triangle (also called megaphone).
the price is close to a nice sell zone, we are waiting our signals to place an order.
A Megaphone in the making? Higher highs and lower lows?A Megaphone in the making? Higher highs and lower lows?
Time To Bail? Distribution Megaphone At Top Of ChannelEuro is at top of a number of downward channel trend lines and is printing a megaphone pattern. This looks like distribution as the larger traders dump positions into the order book and widen its range.
Selling from the top of the day here could be a very good swing position short. I also have a short bias intraday.
S&P500 Gaps Down -4%#sp500 #spx #sp1! – S&P500 futures have once again gapped down as markets reopened for trading tonight, currently down -137 points for a -4.6% loss.
Price is now below the 50% Fibonacci retracement level which is the midpoint between the low seen in October 2018 and the high made in February 2020. 50% retracements after a large/long uptrend are generally viewed as healthy corrections within the overall price advance and represent good buying opportunities, while further declines below the 50% Fib indicate that the previous bull trend is at risk of turning into a bear trend, at least in the short-term. A sign that the bull trend is likely over and a new short-term bear market is forming would be a move below the 61.8% fib level which is the golden ratio retracement. Should price fail to regain the 50% level this week, the likely target will be the 61.8% fib shown in red at 2729 which would be another -3% decline from current price.
Also in the chart is a broadening wedge pattern, also know as a megaphone pattern due to its shape resembling a megaphone. A broadening wedge is a range where price is holding between two diverging trendlines, or lines that are moving apart. These lines are where traders can expect price to trade between, or find support and resistance at. A break above the upper wedge line is viewed as bullish and the beginning of a new uptrend, while a break below the lower wedge line is viewed as bearish and the beginning of a new downtrend.
In October of 2018 price broke above the upper wedge line and began the climb to new all-time highs peaking in February of 2020. While this move was viewed as bullish uptrend continuation, price has now fallen back within the wedge indicating that the previous break above it was a blowoff top rather than uptrend continuation. Now that price is back within the broadening wedge pattern, the potential for a test of the lower wedge line is now a possibility.
For now the level to watch this week, or possibly even on Monday, is the 61.8% Fibonacci retracement level highlighted in red. A move below this level is likely this week considering the coronavirus fear currently gripping markets and its impact on not just the US economy, but also the global economy. This weekend saw the situation deteriorate in regard to the virus and the climbing infection and death rates in the US, as well as new fears launched by Saudi Arabia as they attempt to put US shale out of business by increasing oil production which as of now as oil trading -22% lower than Fridays close.
It appears as though this week could be even more volatile than the previous two weeks, which both saw record price moves, moves not seen since the global financial crisis in 2008. We may be in for another emergency rate cut by the Federal Reserve ahead of their planned meeting which takes place March 17th-18th. Two emergency rate cuts within two weeks would be another new milestone and further evidence that the US economy is teetering on the edge of financial disaster ahead of what appears to be an inevitable slowdown in economic activity.
ETHUSD, Megaphone pattern with strong resistanceHi guys another megaphone pattern for “color options” traders. The resistance line has been touched 5 times already and there was no break. Also, the volume is dropping, it could mean that the interest to break this resistance isn’t there. So I will enter short trade when first red candle forms after last green candle that touched resistance line.If resistance gets broken before my entry conditions are met, I will abandon this set-up. As soon as my entry conditions are met, I will start buying “red options” on every consecutive candle(max 10 trades). My rules are the same as before:
If you have questions about candle color options or wish to discuss trading strategies in real time, join - candle color options - chat, right here on tradingview.
Rules:
7.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.
8.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.
9.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).
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EURUSD Megaphone patternEURUSD is showing a megaphone pattern with next target 1.135 (Weekly 200 SMA) and the 161.8 fibo extension from 1.08792 to 1.11795.
BP BreakdownBP breakdown out of its megaphone pattern. The backtest was unsuccessful.
However, a strengthening '£ vs. $' might encourage it higher. Worth watching.
XAAUSD Megaphone Pattern - Long Term buy IdeaIt's possible to create Megaphone Pattern. It can reach 1600 within next month.
Bulls Win, But Not So FastSo on the after hours we have broken to the upside the next step would be a daily close to the upside. This is Bullish make no mistake about it. However, where are we really going to go 3050 is only 3% away. Remember the longer term charts are still very bearish. We still have the potential head and shoulders forming along with a long-term Megaphone pattern that so far has broken to the downside. I would not buy this breakout rally yet; we are overbought on short term and have bearish divergence, I want to see more evidence for the bull case.
There are three potential scenarios:
Trump tweets something and the breakout is sold off and they open the trap door, or some other negative news it proves to be a false breakout. More potential evidence is the fact that we are overbought on the short term charts and have bearish divergence.
We slowly move up for the next weeks / maybe months but will eventually be sold off.
The Megaphone proves to be a false break to the downside and we break out to the upside and go much higher- 10% or more above all time highs.
