signal strength 1 of 5
The Bearish pennant pattern has formed on the AUDCHF M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.5526 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
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- AUDUSD
- EURCAD
- EURCHF
- EURGBP
- EURJPY
- EURNZD
- EURRUB
- EURUSD
- GBPAUD
- GBPCHF
- GBPJPY
- GBPUSD
- GOLD
- NZDCAD
- NZDCHF
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- NZDUSD
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- USDCAD
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The Double Bottom pattern has been formed on EURGBP M30; the upper boundary is 0.8414; the lower boundary is 0.8407. The width of the pattern is 7 points. In case
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According to the chart of H1, GBPUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.3484/1.3519 whereas the upper border goes across 1.3558/1.3519
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The Double Top reversal pattern has been formed on AUDJPY H1. Characteristics: the upper boundary 93.08; the lower boundary 92.77; the width of the pattern is 34 points. Sell trades
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