signal strength 1 of 5
According to the chart of M5, GBPJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 199.19 - 0.00 and support 198.88 – 198.88. In case the resistance level 198.88 - 198.88 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
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- 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 0.6652
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According to the chart of M30, NZDUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.5976 and support 0.5955
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According to the chart of M15, NZDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.5976, the lower border is 0.5955. The signal means
The M5 and M15 time frames may have more false entry points.
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