signal strength 1 of 5
According to the chart of M5, USDJPY formed the Head and Shoulders pattern. The Head’s top is set at 146.19 while the median line of the Neck is found at 145.83/145.86. 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 USDJPY will go towards 145.71.
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
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- Triple top
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The Double Top pattern has been formed on NZDJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 85.75
The M5 and M15 time frames may have more false entry points.
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The Triple Top pattern has formed on the chart of the #Bitcoin M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern
The M5 and M15 time frames may have more false entry points.
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On the chart of NZDUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5927; the lower boundary 0.5918; the width of the pattern 9 points
The M5 and M15 time frames may have more false entry points.
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