The power of the megaphone patterns for timing is incredible. Let's have a look at recent action in the leveraged gold miner ETFs DUST and NUGT. I've been using DUST with good success for short trades based on the megaphone pattern.
From the latest peak where resistance was tested it's been a steep ride down. Now let's look at where it turned again by looking at NUGT
Again resistance was tested and the turn was visible ahead of time. So we see that with the help of megaphone patterns turns where visible both on the down and upside!