signal strength 1 of 5
According to the chart of M5, AUDUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.6402 while the median line of the Neck is set at 0.6415/0.6416. 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 AUDUSD will go towards 0.6431.
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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The Double Top reversal pattern has been formed on NZDCHF M30. Characteristics: the upper boundary 0.4607; the lower boundary 0.4593; the width of the pattern is 13 points. Sell trades
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The Double Bottom pattern has been formed on NZDUSD H1. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should
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The Triple Bottom pattern has formed on the chart of NZDUSD M30. Features of the pattern: The lower line of the pattern has coordinates 0.5727 with the upper limit 0.5727/0.5722
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