signal strength 2 of 5
According to the chart of M15, EURUSD formed the Head and Shoulders pattern. The Head’s top is set at 1.1494 while the median line of the Neck is found at 1.1413/1.1431. 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 EURUSD will go towards 1.1408.
The M5 and M15 time frames may have more false entry points.
See Also
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- Pennant
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- Triple top
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The Triple Bottom pattern has been formed on USDCHF M30. It has the following characteristics: resistance level 0.8171/0.8170; support level 0.8155/0.8155; the width is 16 points. In the event
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The Double Top pattern has been formed on GBPUSD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3493
The M5 and M15 time frames may have more false entry points.
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The Double Top pattern has been formed on AUDUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.6490
The M5 and M15 time frames may have more false entry points.
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