Wednesday, October 16, 2013

Convex megaphone pattern trendline

Does the slope of megaphone patterns matter? I usually trade megaphone patterns with a concave trendline. Here's a convex one. TMW is pushing against the trendline resistance. If this pattern is predictable it is even better than the concave trendline pattern because the convex trendline is a lower trending trendline as opposed to the higher trending concave trendline.

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