signal strength 1 of 5
The Bearish pennant pattern has formed on the USDCHF M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.8283 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.
The M5 and M15 time frames may have more false entry points.
See Also
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- Double Top
- Flag
- Head and Shoulders
- Pennant
- Rectangle
- Triangle
- Triple top
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- AUDCAD
- AUDCHF
- AUDJPY
- AUDUSD
- EURCAD
- EURCHF
- EURGBP
- EURJPY
- EURNZD
- EURRUB
- EURUSD
- GBPAUD
- GBPCHF
- GBPJPY
- GBPUSD
- GOLD
- NZDCAD
- NZDCHF
- NZDJPY
- NZDUSD
- SILVER
- USDCAD
- USDCHF
- USDJPY
- USDRUB
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The Triple Bottom pattern has formed on the chart of NZDCAD M30. Features of the pattern: The lower line of the pattern has coordinates 0.8244 with the upper limit 0.8244/0.8238
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The Double Bottom pattern has been formed on EURCAD M15. Characteristics: the support level 1.5594; the resistance level 1.5604; the width of the pattern 10 points. If the resistance level
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 NZDJPY M30. Characteristics: the upper boundary 86.41; the lower boundary 86.28; the width of the pattern is 12 points. Sell trades
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