This megaphone pattern, which is also called a broadening formation, indicates broad instability in the American stock market due to the expanding trading range.
Broadening tops appear more on tops than on bottoms and usually have bearish implications.
Price completed 1-5 Elliott waves sequence and now we are in Elliott correction phase.
Meaty bearish candles from institutional level indicate major institutions are entering into shorts. How far price will drop - God knows.
Classic broadening top projection sends us to unclosed level, which makes sense.
For educational purposes only.
Broadening tops appear more on tops than on bottoms and usually have bearish implications.
Price completed 1-5 Elliott waves sequence and now we are in Elliott correction phase.
Meaty bearish candles from institutional level indicate major institutions are entering into shorts. How far price will drop - God knows.
Classic broadening top projection sends us to unclosed level, which makes sense.
For educational purposes only.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.