signal strength 1 of 5
According to the chart of M5, GBPCHF formed the Inverse Head and Shoulder pattern. The Head’s top is set at 1.0969 while the median line of the Neck is found at 1.0936/1.0954. 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 GBPCHF will go towards 1.0984
The M5 and M15 time frames may have more false entry points.
See Also
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- Flag
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- Pennant
- Rectangle
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- Triple top
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According to the chart of H1, GBPJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 198.43 - 0.00
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The Double Top reversal pattern has been formed on GBPCHF M30. Characteristics: the upper boundary 1.0764; the lower boundary 1.0747; the width of the pattern is 16 points. Sell trades
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On the chart of NZDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8204; the lower boundary 0.8193; the width of the pattern 11 points
The M5 and M15 time frames may have more false entry points.
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