praveen.bhatiya

Broadening Top (Megaphone) Pattern

NSE:INDIGO   INTERGLOBE AVIATIO
The stock has nicely formed Broadening Top (Megaphone) Pattern which could be traded. There are 2 ways to trade
1. Selling at the top when it starts moving down at top after touching the trend line and vice versa.
2. Break out in any direction also gives an opportunity to trade.

It works as a trend reversal and gives downward breakout after forming the 5 pivots was the observation of Dr Andrews but that is not the case in this chart.
Trade active: Gave the breakout from the pattern so going long with sl 1310.

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