signal strength 4 of 5
According to the chart of H1, AUDUSD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.6315 while the median line of the Neck is found at 0.6220/0.6291. 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 AUDUSD will go towards 0.6355
See Also
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- Flag
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- Triple top
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The Double Top pattern has been formed on AUDUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.6399
The M5 and M15 time frames may have more false entry points.
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On the chart of GBPUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3332; the lower boundary 1.3315; the width of the pattern 17 points
The M5 and M15 time frames may have more false entry points.
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On the chart of EURNZD H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.9079; the lower boundary 1.9023; the width of the pattern 56 points
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