signal strength 2 of 5
According to the chart of M15, GOLD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 2991.89 - 0.00 and support 2974.26 – 2974.26. In case the resistance level 2974.26 - 2974.26 is broken, the instrument is likely to follow the bearish trend.
The M5 and M15 time frames may have more false entry points.
See Also
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- Double Top
- Flag
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- Pennant
- Rectangle
- Triangle
- Triple top
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The Double Top pattern has been formed on AUDUSD M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.6575
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On the chart of GBPCHF M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.0744; the lower boundary 1.0739; the width of the pattern 5 points
The M5 and M15 time frames may have more false entry points.
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The Triple Top pattern has formed on the chart of the AUDCHF M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -1, support level -3
The M5 and M15 time frames may have more false entry points.
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