SHORT NG in Horizontal Broadening Wedge or megaphone on daily ch
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Usually Ascending megaphones has downward breakouts, while descending has upward. Horizontal is rare case, this usually turn in to continuation of trend. First wave entering in to pattern is downward. So we can hope the price to go downward after breakout from the pattern.
Note
came here after 50 days. After giving this analysis,price went downwards from 3.13 to 2.56 breaking the supportline of the megaphone. Hope you enjoyed this journey. Again it came up but now it is facing resistance from the resistance line of the megaphone and prior high. Anyway this trade is closed. Thank you.
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