Loading ...Another Way Of Looking At It – Descending Megaphone ?
Fiddling around with some lines on the chart, and I’m wondering if the (usually bullish) descending megaphone is in play. It seems to also have a support line (shown in blue), much the same as last years move. Curiously, at the same angle too.
http://thepatternsite.com/dbw.html
I really like this chart, nice one.
It’s always interesting how one chart pattern can morph into another. It’s not always easy to know which is the dominant pattern, so it’s usually a case of considering all of them and getting a ‘feeling’ for which way we’re likely to go. I don’t bother with timescales of days or weeks, so as long as were heading up in the next few months and the general trend is up, I’m happy. The gold cycle should be helping us for the next few years, so I’m not too worried.