I have two megaphone patterns on 4H and 1H. Megaphone pattern is identified as Bulls & Bears in price disagreement. It can be a bullish or bearish pattern. Today I'm defining it as a bearish pattern because of a few reasons.
We have bearish divergence on 4H where price is starting to lose momentum for higher highs.
There is also a Head & Shoulder pattern into play on 4H. Bringing confluence to perspective.
On the right side (1H chart) you can also see bearish divergence forming where the right shoulder is.
You could monitor the right shoulder for a perfect entry or you could wait for the break of the 1H Green trendline.
Price could drop to the 4H Trend line and reverse up quickly which would respect the daily trendline if it closes above before the day over with.
Or price could Break out the megaphone completely and break both trendlines and reach 33000.
We know when US30 is ready for a sell/dip it happens fast and does numbers so be prepared for possible compound trade for major profits.
Expecting price to reach at least to trendline area 34120 and 34220.
We have bearish divergence on 4H where price is starting to lose momentum for higher highs.
There is also a Head & Shoulder pattern into play on 4H. Bringing confluence to perspective.
On the right side (1H chart) you can also see bearish divergence forming where the right shoulder is.
You could monitor the right shoulder for a perfect entry or you could wait for the break of the 1H Green trendline.
Price could drop to the 4H Trend line and reverse up quickly which would respect the daily trendline if it closes above before the day over with.
Or price could Break out the megaphone completely and break both trendlines and reach 33000.
We know when US30 is ready for a sell/dip it happens fast and does numbers so be prepared for possible compound trade for major profits.
Expecting price to reach at least to trendline area 34120 and 34220.