signal strength 1 of 5
According to the chart of M5, NZDUSD formed the Head and Shoulders pattern. The Head’s top is set at 0.6035 while the median line of the Neck is found at 0.6024/0.6025. 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 NZDUSD will go towards 0.6010.
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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The Triple Top pattern has formed on the chart of the NZDJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern
The M5 and M15 time frames may have more false entry points.
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According to the chart of H1, NZDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 85.87/86.30 whereas the upper border goes across 86.61/86.30
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The Double Top reversal pattern has been formed on NZDCAD M5. Characteristics: the upper boundary 0.8110; the lower boundary 0.8101; the width of the pattern is 8 points. Sell trades
The M5 and M15 time frames may have more false entry points.
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