signal strength 1 of 5
The Double Bottom pattern has been formed on EURNZD M5; the upper boundary is 1.8961; the lower boundary is 1.8940. The width of the pattern is 20 points. In case of a break of the upper boundary 1.8961, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.
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
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- Triple top
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- AUDCAD
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- GBPUSD
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According to the chart of M5, EURCAD formed the Head and Shoulders pattern. The Head’s top is set at 1.5963 while the median line of the Neck is found
The M5 and M15 time frames may have more false entry points.
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According to the chart of M30, GBPUSD formed the Head and Shoulders pattern. The Head’s top is set at 1.3647 while the median line of the Neck is found
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The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 197.02; the resistance level 197.28; the width of the pattern 26 points. If the resistance level
The M5 and M15 time frames may have more false entry points.
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