Here is what we said in the August expanded weekend issue: This pattern, also know as a Megaphone , which also looks like a set of jaws, is uniquely characterized by two mirroring boundary lines.
A Megaphone Top also recognized as a Broadening Top is regarded a bearish signal, indicating that the existing uptrend may reverse to form a newer downtrend. A Megaphone Top is a reasonably scarce creation and is also popular as a Broadening Top.
A Megaphone Top also known as a Broadening Top is considered a bearish signal, indicating that the current uptrend may reverse to form a new downtrend. A Megaphone Top is a relatively rare formation and is also known as a Broadening Top.
The answer is Pattern. A technical analyst who is willing to trade will always search for a pattern in the chart.
Please make sure that you are posting in the form of a question. Chart Patterns is a Wall chart poster displays 30 Chart Patterns color for active market traders and investors with illustrated Entries, Stops and Targets on a 24" x 36" 2 ft.
Megaphone patterns are considered both reversal and continuous patterns and usually appear at major market tops and bottoms. Megaphone pattern formations have five distinct swings.
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