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Megaphonepattern

SPY Breakdown Reversal out of Megaphone PatternSPY has been in an erratic uptrend since October. on the 2H chart, It is now in a megaphone pattern with more touches of the lower support trendline than touches of the upper resistance trendline. This suggests a breakdown out of the pattern. The MACD shows the lines below zero and the MACD about to cross under its signal. Price is about to break under EMA200 which may be considered a support and so the initiation of a downtrend out of the pattern, This appears to be a good setup to short the SPY or buy put options all while waiting federal news later this week.
AMEX:SPYShort
by AwesomeAvani
BTC bullish megaphone pattern with double bottom +RSI breakoutHi dear community. I'm looking at weekly timeframe. As you see there is a huge megaphone bullish chart pattern on BTC chart, its target I published on my previous analyses. I think the recent dump to 15.5K is a fake breakdown/bear trap/ with double bottom + RSI bullish divergence like 2021 November top, which was a false breakout/bull trap/ with double top+ RSI bear div. So I think the real bottom was at 17.5K in June like the real top in 2021 April. I'm considering that BTC has succeeded to break RSI diagonal trendline and now It is making a retest, I think it will hold and send BTC to 28-30K. On chart you can find my explanation why I think RSI diagonal resistance has broken.
BITSTAMP:BTCUSDLong
by ergal91
1
BTC bullish megaphone pattern with 80-85K targetI'm looking at weekly timeframe. As you noticed BTC formed bullish megaphone pattern with 80-85K target by Q2 2023. BTW there is also falling wedge pattern inside megaphone pattern which increases bullish case scenario. King of crypto broke weekly RSI trendline which is historical for BTC. At the moment BTC has broken weekly descending triangle with 24-25K target, so all my predictions based on my analyses posted since June 2022 are right. I told you BTC bottom was in at 17.5K on 18.06.2022 and I haven't changed my idea since then. Do you believe new ATH in 2023 or not? Comment bellow, check all my analyses bellow related ideas and if you like my analyses and ideas please follow me.
BITSTAMP:BTCUSDLong
by ergal91
3
Is Huobi Token Megaphone Pattern Bullish or Bearish?Over the past 3.5 months, Huobi Token (HT) has been developing a megaphone pattern, also known as the broadening pattern. The pattern is neither bullish nor bearish, but it hints at a period of heightened volatility as long as HT's price remains trapped inside the megaphone support and resistance levels. HT Megaphone Pattern The megaphone pattern can be recognized by successive higher highs and lower lows. On the price chart, this pattern is visible by two diverging trendlines. Usually, the pattern marks a period of high volatility with no clear market direction. HT's price is testing the upper resistance trendline of the megaphone pattern around the $7.10 level. RSI Oscillator After the recent sharp rally, HT's price is greatly overbought. The Relative Strength Index (RSI) has reached 84, its highest reading since February 2021. Fears of the rally losing momentum are justified, as other technical factors are calling for a pause. Aside from extreme overbought levels, HT's price is also battling the key 200-day simple moving average. 200-Day Simple Moving Average While we broke above the 200-day simple moving average, it remains to be seen how this will play out within the megaphone pattern. For a fundamental shift in the market sentiment, we need multiple daily closes above the 200-day SMA. The current daily candle already shows signs of rejection at the megaphone resistance trendline, which may be another sign that, in the short term, the bullish momentum is running out of steam. Looking forward: To the downside, the first support area is the $5.00 big psychological level. A daily break and close below $5.00 will eventually open the door for a retest of the lower support trendline.
H
by cryptohopper
2
COIN LONG = Ascending Megaphone PatternNASDAQ:COIN COIN downrended from November 2021 to later July loosing 85% of its price along the way. Having completed its reversal, it is now up trending in a megaphone pattern reflecting increasing volatility. Relative volume has increased. I have plotted in mid-Fibonacci levels. I see this as a swing long setup, and will take the trade setting up the stop loss as the market low late July. Targets include the Fibonacci levels as well as where price hits the mid=line of the megaphone where it could break through or bounce in this high volatility zone. I will leave a runner to see if price can eventually reach the late 2021 price level especially if the crypto market undergoes a resurgence.
NASDAQ:COINLong
by AwesomeAvani
13
TSLA descending widening channel MEGAPHONE SHORT NASDAQ:TSLA TSLA on the daily chart has a megaphone pattern showing increasing volatility as the price action is downward. Supportive and resistance trendlines are touched multiple times. At present, the price is also at a horizontal S/R line being the 2021 year high. Another horizontal line is the double bottom of Spring 2021 forming a support zone. My analysis is that TLSA will downtrend from here heading down until the mid-Fibonacci retracement levels and perhaps further to support zone at 188-208 and potentially lower if short sellers aggressively gain directional momentum. I have taken an out-of-the-money put option with a strike of $ 200 for October 21st mindful of the earnings date.
NASDAQ:TSLALong
by AwesomeAvani
1
POTX a cannabis ETF is a siwng LONG Setup ( ACB MJ TLRY)POTX as shown on the 30 minute chart is showing an ascending megaphone pattern, a reflection of increased volatility, The price is sitting on the lower megaphone support line and the RSI shows weakness. Green up arrows show each time the price has touched the support line it has reversed to the upside. The same for the RSI. I see this an an excellent swing long setup with a target of about $22 or 25% in a diversified EFT allowing for a bit of risk mitigation.
PLong
by AwesomeAvani
4
WKHS LONGWKHS on the 2H chart is showing an ascending megaphone pattern. Price is currently sitting on the ascending support line and above the POC of the volume profile. The MACD lines are underneath the histogram while the RSI is in the mid-range. I see this as a swing long setup targetting first the top of the volume profile and then the upper resistance trendline The upside is 30 and 50 % respectively making it a low risk when placing a stop loss at 3.22 the swing low from the beginning of the week. A xll option trade with a strike of $3.50 for September 16th is also considered.
NASDAQ:WKHSLong
by AwesomeAvani
CAN Megaphone and Wyckoff Accumulation PatternCAN is printing a Broadening Bottom Megaphone pattern on the CAN daily chart; the RSI looks to be increasing on the price lows indicating increased momentum. Zooming out it also looks like an accumulation pattern has been forming over the past several months. The megaphone may work as the "Spring / Test" stages for Phase C if it plays out and bring the price back up into the recent trading range. If the Megaphone breaks down, then it may be a take a while to climb back. I am not a financial advisor or professional trader by and stretch, so please do your own research.
NASDAQ:CANLong
by chimera_brendo
BTC Wedges, Megaphones, Channels and a partridge in a pear treeBTC is in an Ascending Channel on this 1d timeframe. Even if BTC drops to around $34,000, it would still be within this Ascending Channel. BTC is potentially in an absolutely massive Megaphone Pattern/Reverse Symmetrical Triangle on this 1d timeframe. BTC is potentially in a smaller Megaphone Pattern/Reverse Symmetrical Triangle on this 1d timeframe. BTC is potentially in a massive Rising Wedge Pattern. BTC is potentially in a smaller Rising Wedge Pattern. It’s almost certain that we will NOT get the 4th touch which would be on the bottom of the Massive Inverted Symmetrical Triangle, but on the Smaller Inverted Symmetrical Triangle we may get a 4th touch if the Rising Wedge Support & the Ascending Support Line both fails. BTC is still in its upwards Pitchfork Pattern (A,B,C) on this 1d timeframe. Note that BTC is below its Pitchfork Median Line on this 1d timeframe. At the moment, BTC has found support from its Lower Yellow Pitchfork Support Line. If BTC stays above the Lower Yellow Support Line then history dictates the Price will eventually gravitate back upwards towards the Pitchfork Median Line and possible encounter strong resistance before breaking back above it. The Ascending Red Support Line is also doubling as the Pitchfork Hagopian Line. At the moment of typing this, BTC is above its Least Squares Moving Average (LSMA) for this 1d timeframe. We need BTC to close this daily candle above the LSMA. BTC is below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. We need BTC to close back above the BB Middle Band before any real recovery can be considered. The Moving Average Convergence Divergence (MACD) is indicating momentum is downwards on this 1d timeframe. Note that the MACD Line (Blue Line) is still below the Signal Line (Orange Line) and is in the Negative Zone under the 0.0 Base Line for this 1D timeframe. If you are uncertain to buy in then wait for the MACD Line (Blue Line) to cross back above the Signal Line (Orange Line) on this 1d timeframe. Here is a closer look at this chart. Yep, this chart is pretty bonkers but i thought i'd do something a little different ;-) so I hope this is helpful with your trading and hodl-ing. Notes: Bollinger Bands = Grey Bands on chart LSMA = Black Squiggly Line on chart Pitchfork = A,B,C Pitchfork Hagopian Line = Red Line on chart Ascending Channel = Ascending Black and Green Lines on chart Massive Megaphone Pattern/Reverse Symmetrical Triangle = Purple Lines on chart Smaller Megaphone Pattern/Reverse Symmetrical Triangle = Black Dashed Lines on chart Massive Rising Wedge = Ascending Converging Black and Purple Lines on chart Smaller Rising Wedge = Ascending Converging Black Solid and Dashed Lines on chart
BITSTAMP:BTCUSD
by TradingThroughTheLens
4