signal strength 2 of 5
According to the chart of M15, EURGBP formed the Head and Shoulders pattern. The Head’s top is set at 0.8370 while the median line of the Neck is found at 0.8358/0.8357. 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 EURGBP will go towards 0.8335.
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
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- EURNZD
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- EURUSD
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- GBPCHF
- GBPJPY
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On the chart of the GBPJPY M30 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak
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According to the chart of M30, NZDJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border
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According to the chart of M15, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 198.75/199.07 whereas the upper border goes across 199.49/199.07
The M5 and M15 time frames may have more false entry points.
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