signal strength 2 of 5
According to the chart of M15, USDCAD formed the Head and Shoulders pattern. The Head’s top is set at 1.3940 while the median line of the Neck is found at 1.3920/1.3919. 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 USDCAD will go towards 1.3896.
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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The Bullish pennant pattern is formed on the GBPUSD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high
The M5 and M15 time frames may have more false entry points.
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The Double Bottom pattern has been formed on NZDUSD M30. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should
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The Double Bottom pattern has been formed on NZDCAD M15. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should
The M5 and M15 time frames may have more false entry points.
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