signal strength 2 of 5
According to the chart of M15, GBPUSD formed the Head and Shoulders pattern. The Head’s top is set at 1.3590 while the median line of the Neck is found at 1.3569/1.3569. 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 1.3547.
The M5 and M15 time frames may have more false entry points.
See Also
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- Triple top
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The Double Top reversal pattern has been formed on GBPCHF M30. Characteristics: the upper boundary 1.0839; the lower boundary 1.0816; the width of the pattern is 24 points. Sell trades
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The Double Bottom pattern has been formed on GBPJPY M15. Characteristics: the support level 198.25; the resistance level 198.50; the width of the pattern 25 points. If the resistance level
The M5 and M15 time frames may have more false entry points.
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The Double Top pattern has been formed on NZDUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5874
The M5 and M15 time frames may have more false entry points.
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