signal strength 1 of 5
According to the chart of M5, USDCHF formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.8400 while the median line of the Neck is found at 0.8358/0.8377. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of USDCHF will go towards 0.8415
The M5 and M15 time frames may have more false entry points.
See Also
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- Flag
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- Pennant
- Rectangle
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- Triple top
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The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 199.47; the lower boundary 199.18; the width of the pattern is 28 points. Sell trades
The M5 and M15 time frames may have more false entry points.
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The Double Top reversal pattern has been formed on GBPUSD M30. Characteristics: the upper boundary 1.3549; the lower boundary 1.3535; the width of the pattern is 13 points. Sell trades
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According to the chart of H1, GBPAUD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 2.0594/2.0646 and upper border is 2.0715/2.0646. The pattern width is measured
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