signal strength 1 of 5
According to the chart of M5, NZDCAD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.7878 while the median line of the Neck is found at 0.7826/0.7858. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of NZDCAD will go towards 0.7893
The M5 and M15 time frames may have more false entry points.
See Also
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- Flag
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- Pennant
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- Triple top
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According to the chart of M30, EURCHF formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.9380 and 0.9358 are the coordinates
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According to the chart of M15, EURCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.5600 is breached. Here
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 USDCHF M30. Characteristics: the upper boundary 0.8242; the lower boundary 0.8225; the width of the pattern is 17 points. Sell trades
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