Showing a megaphone pattern..
This particular pattern can be bearish or bullish; it all depends on which way the breakout occurs.
200ema daily is sitting around 4028 which also aligns with Megaphone top, so that's where I'll place the stop loss.
Bearish targets - 3959 (White line) and 3945 (Megaphone support).
If price moves over 4028, this setup is negated
Closed right below fib.
Fib levels
High- 4808.25
Low- 3502.00
This particular pattern can be bearish or bullish; it all depends on which way the breakout occurs.
200ema daily is sitting around 4028 which also aligns with Megaphone top, so that's where I'll place the stop loss.
Bearish targets - 3959 (White line) and 3945 (Megaphone support).
If price moves over 4028, this setup is negated
Closed right below fib.
Fib levels
High- 4808.25
Low- 3502.00
