signal strength 1 of 5
According to the chart of M5, GBPCHF formed the Head and Shoulders pattern. The Head’s top is set at 1.1418 while the median line of the Neck is found at 1.1408/1.1408. 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 GBPCHF will go towards 1.1393.
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 Double Top reversal pattern has been formed on GBPUSD M5. Characteristics: the upper boundary 1.3373; the lower boundary 1.3361; the width of the pattern is 11 points. Sell trades
The M5 and M15 time frames may have more false entry points.
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The Double Bottom pattern has been formed on AUDCAD M15. Characteristics: the support level 0.8902; the resistance level 0.8916; the width of the pattern 14 points. If the resistance level
The M5 and M15 time frames may have more false entry points.
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The Bearish pennant pattern has formed on the AUDJPY M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 92.44; the projection
The M5 and M15 time frames may have more false entry points.
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