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Megaphonepattern

BTC OVERSOLD! POSSIBLE LONG TO TOP OF MEGAPHONE! (56K)Hello my beauties. I think BTC/USD has the chance to go back to the top of the megaphone it's in. It went into overbought during the formation of the higher end of this pattern, now it has recovered from an oversold condition. The stochastic is diverging, so is the RSI - when the two indicators diverge together, it's normally bingo - and I believe we could long for a while here. If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
CME:BTC1!Long
by TrickleDownFX
US30 July 27 Megaphone Detailed Analysis I have two megaphone patterns on 4H and 1H. Megaphone pattern is identified as Bulls & Bears in price disagreement. It can be a bullish or bearish pattern. Today I'm defining it as a bearish pattern because of a few reasons. We have bearish divergence on 4H where price is starting to lose momentum for higher highs. There is also a Head & Shoulder pattern into play on 4H. Bringing confluence to perspective. On the right side (1H chart) you can also see bearish divergence forming where the right shoulder is. You could monitor the right shoulder for a perfect entry or you could wait for the break of the 1H Green trendline. Price could drop to the 4H Trend line and reverse up quickly which would respect the daily trendline if it closes above before the day over with. Or price could Break out the megaphone completely and break both trendlines and reach 33000. We know when US30 is ready for a sell/dip it happens fast and does numbers so be prepared for possible compound trade for major profits. Expecting price to reach at least to trendline area 34120 and 34220.
OANDA:US30USDShort
by JasonFosterII
The current ETH situation | ETHUSD | BULLISH OR BEARISH?ETH has been on quite a run lately based on fundamentals moving from $1700 up to the price of $2400 in the past 10 days, however the price has been consolidating within the current price for the past few days. This is never bad as the price needs some time to create more support and to rest so it is not seen as overextended leading to a sudden drop off top. In the following paragraphs I shall be discussing my honest opinion on the current ETH market, however, everything I state in this article is based on my own opinion and should not be taken as a signal to buy or sell your ETH. in order to understand what is going on in the chart analysis above ill start with the pennant formation marked in yellow. As you can see this formation broke to the downside, which theoretically is how these formations play out, as they are continuation patterns and the origin (flagpole) is from a bearish movement. The price bottomed out after the breakout at the $1700 level. Another formation was created there after which is also a continuation pattern. The megaphone formation: The name derives from the fact that it looks like a megaphone which is fairly obvious. These formations generally are a strong confluence among other confluences that the price is going to move a certain direction. As the formation is a continuation pattern the pattern theoretically breaks out according to that, which it did. The target point (TP) of this formation will put ETH at around $2500, which is very convenient and almost to obvious, as the long term 50% fib retracement level sits within a few dollars from the TP adding further confluence to my prediction. Therefore it could be strongly argued until proven by price that we are within a consolidation phase, just as most of the market is. The range in which we are consolidating seems to be between the $1700 level and the 50% fib retracement ($2523), However the Golden pocket will also play a key role and keeping the price back before it reaches these levels of support and resistance. The MacD is almost slowly beginning to turn to the bearish momentum which will line up perfectly with the TP being reached and the retracement to the Golden pocket being a reasonably valid prediction, if the price plays out the way the technicals indicate. Therefore for the short term at least I remain neutral on the price of ETH. This area of consolidation can be seen as a great buy in area for those who are in for the long term, but for those who are trying to make a quick trade, I advise you wait for a move out of the range of consolidation before you place a short term trade, as the market is very tricky lately. Don't forget to leave a like if you agree or disagree with this article and if so leave a comment explaining why you disagree, am always open to different perspectives. Happy trading and thank you! #notfinancialadvice
BINANCE:ETHUSD.P
by Crisp_Flow
DE30: The Most Detailed Analysis (Megaphone)On the DE30, price is respecting the non horizontal supports and resistances since many weeks. So what do we have on this one ? 1. Non horizontal Support: The price is retesting now for a second time our yellow support meaning that we should look only for buy setups on the short term. So let's dive in to see what are our possible opportunities. 2. Double Bottom: Although it hasn't been valid yet, but it's clear that we might have a second rejection around our support so a double bottom pattern would add a lot of confirmation to our decision. 3. MEGAPHONE: A megaphone is an unorthodox pattern but experience has taught us to take it into consideration for it has a very high volatility. Inside a megaphone, which is similar to a divergent wedge, the more the price moves, the bigger the volatility becomes. This also backed by fundamentals as we have seen some positive results on the German economy (unemployment rate), which boosts the DE30 because a better than expected results has a good impact on the industry. Now a megaphone is created by these events followed by corrections, which usually are smaller than the impulse. Need more details, you just have to contact us, Trade Safe
DLong
by Therealsmaira
AUD / USD PREDICTIVE IDEA * PRICE ACTION & STRUCTURE PTTNSHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A LOOK AT THE AUD / USD PAIR WHICH IS CURRENTLY TRADING IN A BULL FLAG CURRENTLY RANGING WITHIN STRUCTURE LOOKING FOR CONTINUATION. * follow your entry rules on entries * significant moves with the bears change the plan. lets see how it goes. many stars must align with the plan before executing the trade, kindly follow your rules. HAPPY TRADING EVERYONE & LET YOUR WINS RUN... _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES RISK-MANAGEMENT PERIOD - SWING TRADE __________________________________________________________________________________________________________________________ If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Long
by PULEMokhothu
Potential Bearish Megaphone !Currently, I see a potential Bearish "Megaphone" pattern or potential Bearish Broadening wedge. Short-term bearish assumptions for the gold price are the potential targets 1, 2, and 3; that's the strongest support. Technical analysis Plan A: If the price can break out and close below the potential target 3, I reckon XAU/USD will keep falling to retest the bottom wedge line. Plan B: If the price rejects the potential targets 1, 2, or 3, I reckon XAU will go up to retest the upper broadening wedge line and most likely the upper major channel line. Invalidation: If the price can break out and close above the broadening wedge, then this analysis fails. Fundamental preview Q2 started with a nice rally as Fed's dovish messages sink in. The market seems didn't care about strong US data and the US economic recovery, which statistically growing at its fastest pace since 1984. Last week, the core retails sales went up to 8.4%, retail sales went up to 9.8%, and the unemployment claims fell deep to 576K. But, U.S consumer prices surge in March, CPI finds, pushing inflation to a 2 1/2-year high. As of now, I trust the price action. London (CNN Business): "President Joe Biden's $1.9 trillion stimulus package will boost the US economy and drive faster global growth this year, the International Monetary Fund said Tuesday, though it warned that many countries continue to suffer from the pandemic and are at risk of being left behind. The US economy will surpass its pre-pandemic size as growth reaches 6.4% this year, the IMF said, up 1.3 percentage points from the group's forecast in January. The rebound will help the global economy expand 6% in 2021, an upgrade of 0.5 percentage points from the IMF's previous outlook. The estimates are broadly in line with Wall Street's expectations."
FOREXCOM:XAUUSDShort
by GoldCartel
7
EURUSD 1.18894 + 0.36 % SHORT IDEA * CONTINUATION PATTERNS Hey everyone Hope everyone is good having a good one its still a new week lets see how it goes, Here's a look at the EURO / DOLLAR from the 4H * The pair has been trading in that MEGAphone / descending channel respecting structure to an extent the structure has held. * The pair has been trading around 1.19, up from the 2021 lows of 1.1836 as US ten-year yields fall from the highs above 1.60%. * Looking for a retest of the base of structure before we see momentum shift with the bulls to the upside * follow your entry rules on entries * significant moves with the bears change the plan. * TIGHT SL lets see how it goes. AS ALWAYS PROPER RISK MANAGEMENT AND A LOT OF PATIENCE & AGAIN many stars must align with the plan before executing the trade, kindly follow your rules. HAPPY TRADING EVERYONE & LET YOUR WINS RUN... _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES RISK-MANAGEMENT PERIOD - SWING TRADE __________________________________________________________________________________________________________________________ If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Short
by PULEMokhothu
2
$DOW Jones is at important technical point.Wave 5 is complete and we are at the crossroads. On one side we are in the midst of the destruction of the dollar and starting stages of hyperinflation, on the other side so many dumb "investors" are trying to play the market and they have no clue what they are doing. Margin debt levels are at the highest level in history, the crowd is so convinced that this time it is different and they are always get wiped out. It will be interesting to see how things will develop. In any case, If you are smart you will make money.
CBOT_MINI:YM1!
by Trade2Double
1
ETH Sell High, buy LowIn Theory, also using BTC Dominance chart to support this. Eth looks as though it has had 3 waves up, and seeing if it has peaked against BTC, looking to confirm with a move down below 0.04000 to confirm megaphone pattern on the pair. Will consider starting a pattern of converting back into ETH mid-way through the megaphone, or lower if it is offered. Have been converting from ETH to BTC all the way up, sold as much ETH as I care to at this point, core position still has plenty in the bag to spare.
by JJMa
3