signal strength 4 of 5
The Bearish pennant pattern has formed on the USDJPY H1 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 144.82; the projection of the flagpole height is equal to 117 pips. In case the price breaks out the pattern’s bottom of 144.82, the downtrend is expected to continue for further level 144.42.
See Also
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- Double Top
- Flag
- Head and Shoulders
- Pennant
- Rectangle
- Triangle
- Triple top
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According to the chart of M5, GBPCHF formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.0973 and support 1.0964
The M5 and M15 time frames may have more false entry points.
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The Triple Top pattern has formed on the chart of the USDCHF M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 1, support level -16
The M5 and M15 time frames may have more false entry points.
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The Double Top pattern has been formed on GBPCHF M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.0965
The M5 and M15 time frames may have more false entry points.
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