DR. REDDY S LABORATORIESEducation
Megaphone Pattern
Updated
Breakout Traders:
When the price breakout the trend line after making the 5th or 7th swings and closes outside the pattern, a breakout is confirmed. Breakout may happen in positive or in a negative direction. Depending upon the market condition and the position of the pattern in the chart, bullish and bearish happens.
When the price breakout the trend line after making the 5th or 7th swings and closes outside the pattern, a breakout is confirmed. Breakout may happen in positive or in a negative direction. Depending upon the market condition and the position of the pattern in the chart, bullish and bearish happens.
Note
Breakout with good volume
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.