signal strength 2 of 5
The Double Bottom pattern has been formed on NZDUSD M15. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.5925 is broken. The further movements will rely on the width of the current pattern 14 points.
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
- Triangle
- Triple top
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The Double Bottom pattern has been formed on NZDCAD M5. Characteristics: the support level 0.8240; the resistance level 0.8261; the width of the pattern 21 points. If the resistance level
The M5 and M15 time frames may have more false entry points.
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According to the chart of M5, EURCAD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.5661 and support 1.5638
The M5 and M15 time frames may have more false entry points.
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On the chart of EURCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.5659; the lower boundary 1.5641; the width of the pattern 18 points
The M5 and M15 time frames may have more false entry points.
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