signal strength 2 of 5
According to the chart of M15, NZDJPY produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 85.95 while the median line of the Neck is set at 86.24/86.20. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of NZDJPY will go towards 86.43.
The M5 and M15 time frames may have more false entry points.
See Also
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- Triple top
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The Double Top reversal pattern has been formed on USDCHF M15. Characteristics: the upper boundary 0.8286; the lower boundary 0.8267; the width of the pattern is 21 points. Sell trades
The M5 and M15 time frames may have more false entry points.
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On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 192.14; the lower boundary 191.84; the width of the pattern 30 points
The M5 and M15 time frames may have more false entry points.
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The Double Bottom pattern has been formed on EURUSD M15. Characteristics: the support level 1.1288; the resistance level 1.1312; the width of the pattern 24 points. If the resistance level
The M5 and M15 time frames may have more false entry points.
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