signal strength 1 of 5

The Double Bottom pattern has been formed on EURJPY M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 167.01 is broken. The further movements will rely on the width of the current pattern 32 points.
The M5 and M15 time frames may have more false entry points.
See Also
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- Double Top
- Flag
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- Pennant
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- Triangle
- Triple top
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According to the chart of H1, NZDUSD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.5860 while the median line of the Neck is found
Open chart in a new windowThe Double Top pattern has been formed on NZDUSD M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5838
Open chart in a new windowOn the chart of NZDUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5860; the lower boundary 0.5838; the width of the pattern 22 points
The M5 and M15 time frames may have more false entry points.
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