signal strength 1 of 5
The Bearish pennant pattern has formed on the GBPJPY M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 192.67 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.
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
- AUDCHF
- AUDJPY
- AUDUSD
- EURCAD
- EURCHF
- EURGBP
- EURJPY
- EURNZD
- EURRUB
- EURUSD
- GBPAUD
- GBPCHF
- GBPJPY
- GBPUSD
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- NZDCAD
- NZDCHF
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- NZDUSD
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According to the chart of M30, GBPAUD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 2.0978, the lower border is 2.0922. The signal means
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According to the chart of M30, EURGBP formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.8518
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According to the chart of M30, AUDUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.6516 and support 0.6487
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