signal strength 1 of 5
According to the chart of M5, GBPJPY formed the Head and Shoulders pattern. The Head’s top is set at 195.33 while the median line of the Neck is found at 195.07/195.09. 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 GBPJPY will go towards 194.94.
The M5 and M15 time frames may have more false entry points.
See Also
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- Flag
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- Triple top
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On the chart of EURGBP M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8529; the lower boundary 0.8507; the width of the pattern 22 points
The M5 and M15 time frames may have more false entry points.
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According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.6540 is likely to encourage a continuation
The M5 and M15 time frames may have more false entry points.
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On the chart of EURUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.1726; the lower boundary 1.1707; the width of the pattern 19 points
The M5 and M15 time frames may have more false entry points.
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