SPX ES Bearish Megaphone Pattern
Pattern fails if it breaks out above 4000, and bear trend fails above the POC ~4015. Otherwise look down for 3900 1.6 fib and 3825 2.6 fib.
Interesting that it made a mini bear megaphone pattern that failed at pivot 1, but the volatility created and even larger pattern. Megaphones have a habit of doing that because of the wild swings. So if it fails perhaps look for an even larger mega phone structure!
Interesting that it made a mini bear megaphone pattern that failed at pivot 1, but the volatility created and even larger pattern. Megaphones have a habit of doing that because of the wild swings. So if it fails perhaps look for an even larger mega phone structure!
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The macro 2 pivot in green looks strange with the dip running almost all the way down, but it ended the day around the open, so it kinda works. More generally it's as if the failed megaphones are their own pivot legs. First fail is the 1-2 2nd fail would be the 2-3.
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