Euro Megaphone Needs a Retrace to At Least VWAP
Euro futures have reached their silver megaphone top. The megaphone requires a retrace to VWAP to be legal for an upwards breakout.
The faster and smaller the topping formation here, the more likely the euro will reverse at VWAP for that breakout.
The bigger and more prolonged the topping pattern here, the more likely the euro will return to the megaphone bottom.