signal strength 3 of 5
According to the chart of M30, GBPUSD formed the Head and Shoulders pattern. The Head’s top is set at 1.3421 while the median line of the Neck is found at 1.3371/1.3378. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of GBPUSD will go towards 1.3348.
See Also
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- Double Top
- Flag
- Head and Shoulders
- Pennant
- Rectangle
- Triangle
- Triple top
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The Triple Bottom pattern has been formed on AUDJPY H1. It has the following characteristics: resistance level 92.94/92.85; support level 92.44/92.53; the width is 50 points. In the event
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The Double Bottom pattern has been formed on NZDCHF M30. Characteristics: the support level 0.4882; the resistance level 0.4893; the width of the pattern 11 points. If the resistance level
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The Double Bottom pattern has been formed on NZDCHF M15. Characteristics: the support level 0.4882; the resistance level 0.4893; the width of the pattern 11 points. If the resistance level
The M5 and M15 time frames may have more false entry points.
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