When I discovered this two part pattern. I was amazed at how well it performed.
First lets talk context.
This pattern occurs after a big move up or down.
This is a consolidation pattern.
After the market makes a big move then it makes a pattern of higher highs and lower lows.
This is called the Mega Phone Pattern or also known as a broadening formation.
There are two ways to trade this.
The best way is to trade it as a continuation pattern.
Then second best way is to trade it inside the pattern.
The way to trade this is to find the levels in the pattern.
Then way for a candlestick price action pattern around those levels. Either a move to the downside or a break up.
Trading around these levels is a great way to become a better trader.
If you are interested in making weekly cashflow with your trading.
Here is how I help you do it in a relatively quick time frame.
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Thanks,
Casey
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