signal strength 1 of 5
The Bearish pennant pattern has formed on the EURJPY M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 163.34; the projection of the flagpole height is equal to 41 pips. In case the price breaks out the pattern’s bottom of 163.34, the downtrend is expected to continue for further level 163.19.
The M5 and M15 time frames may have more false entry points.
See Also
- All
- Double Top
- Flag
- Head and Shoulders
- Pennant
- Rectangle
- Triangle
- Triple top
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- AUDCAD
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- EURUSD
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- GBPJPY
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- NZDUSD
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- USDCAD
- USDCHF
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- USDRUB
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According to the chart of M5, NZDUSD formed the Head and Shoulders pattern. The Head’s top is set at 0.6035 while the median line of the Neck is found
The M5 and M15 time frames may have more false entry points.
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The Double Bottom pattern has been formed on GBPAUD M5; the upper boundary is 2.0860; the lower boundary is 2.0850. The width of the pattern is 11 points. In case
The M5 and M15 time frames may have more false entry points.
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The Double Bottom pattern has been formed on GBPCHF M15; the upper boundary is 1.1091; the lower boundary is 1.1081. The width of the pattern is 10 points. In case
The M5 and M15 time frames may have more false entry points.
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