The megaphone pattern is a broadening pattern that is difficult to trade shorter term.
The head and shoulders pattern is inside this broadening pattern. A break of the neckline with a downtrend validates tis pattern. Until then it is strong support.
A break of the Rectangle support line with a downtrend validates the Rectangle pattern.
Long term, I think this is a SHORT! But it may not be an easy short to hang with.
I was not invited to the party with James Taylor playing at the Whitehouse to celebrate the Inflation Reduction bill. It does not seem like a bill full of government spending will successful in the long run, but Joe and Nancy say we have to be patient and give this bill some time )o:
I see a long term short that will may be a quite bouncy on the way down.
No recommendation/Possibly not a short for the feint of heart but if you are good at hanging, this may be one for you (o"
ES 165.90 with a downtrend. There are two patterns here that can have targets, the rectangle would need to break first, then the H&S pattern. I will skip the megaphone because there is no way I can know what it will do.
The head and shoulders pattern is inside this broadening pattern. A break of the neckline with a downtrend validates tis pattern. Until then it is strong support.
A break of the Rectangle support line with a downtrend validates the Rectangle pattern.
Long term, I think this is a SHORT! But it may not be an easy short to hang with.
I was not invited to the party with James Taylor playing at the Whitehouse to celebrate the Inflation Reduction bill. It does not seem like a bill full of government spending will successful in the long run, but Joe and Nancy say we have to be patient and give this bill some time )o:
I see a long term short that will may be a quite bouncy on the way down.
No recommendation/Possibly not a short for the feint of heart but if you are good at hanging, this may be one for you (o"
ES 165.90 with a downtrend. There are two patterns here that can have targets, the rectangle would need to break first, then the H&S pattern. I will skip the megaphone because there is no way I can know what it will do.
Note
There are a lot of buyers in CRWD, hence a lot of possible sellers. This imbalance can cause a struggle for equilibrium in the end.These buyers are perhaps convinced this is the Cybersecurity stock of the century, and even comparable to PANW. Dunno. Maybe one day. Just maybe not this year. )o:
Note
Targets met for Rectangle's break to the downside.H&S targets on chart below.
Note
Symmetrical Triangle/Earnings AMCNote
11/29/22Earnings Released/Boom! End of this post and good luck!
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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.