SPX500USD MEGAPHONE PATTERN AND FIBONACCI RATIOS
SPX500USD has formed a megaphone pattern on its daily chart.
The price has rejected the mid range MID RANGE 4410.0.
Megaphones patterns tend to reverse the prices trends in 5 wings.
Fibonacci extension tool is used to determine potentials targets to the downside.
TP1 4068.7 61.8% SYMMETRY ABC
TP2 3892.0 78.6% SYMMETRY ABC
TP3 3619.9 100% SYMMETRY ABC
The price has rejected the mid range MID RANGE 4410.0.
Megaphones patterns tend to reverse the prices trends in 5 wings.
Fibonacci extension tool is used to determine potentials targets to the downside.
TP1 4068.7 61.8% SYMMETRY ABC
TP2 3892.0 78.6% SYMMETRY ABC
TP3 3619.9 100% SYMMETRY ABC
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