Nasdaq double megaphone + Rising wedge setup
- numerous megaphone pattern in 2017 and majority lead to a sharp pullback
- observed a large megaphone complex similar to the May/June setup
- price currently failed to reclaim back to the rising wedge and stalled
- expect a sharp move when the trendline is taken
- Bull can still push for higher top to form a larger megaphone but eventually the price will fall back, will keep monitoring for the formation
- observed a large megaphone complex similar to the May/June setup
- price currently failed to reclaim back to the rising wedge and stalled
- expect a sharp move when the trendline is taken
- Bull can still push for higher top to form a larger megaphone but eventually the price will fall back, will keep monitoring for the formation
Comment:
Daily BB top at 6408, BB width narrowing ... bull has to up & up.. no chance to look back ~
Daily BB top at 6408, BB width narrowing ... bull has to up & up.. no chance to look back ~
Big and small megaphone ... bull has to up & up