signal strength 4 of 5
According to the chart of H1, NZDCAD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.8151 while the median line of the Neck is set at 0.8199/0.8203. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of NZDCAD will go towards 0.8243.
See Also
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- Double Top
- Flag
- Head and Shoulders
- Pennant
- Rectangle
- Triangle
- Triple top
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- AUDCAD
- AUDCHF
- AUDJPY
- AUDUSD
- EURCAD
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- EURGBP
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- GBPAUD
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- GBPJPY
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- NZDCHF
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The Double Top pattern has been formed on GBPCHF M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.1022
The M5 and M15 time frames may have more false entry points.
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The Double Top pattern has been formed on EURUSD H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.1510
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The Double Top pattern has been formed on NZDJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 87.14
The M5 and M15 time frames may have more false entry points.
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