signal strength 1 of 5
The Bearish pennant pattern has formed on the NZDUSD M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.5728 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
- AUDJPY
- AUDUSD
- EURCAD
- EURCHF
- EURGBP
- EURJPY
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- EURRUB
- EURUSD
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- NZDCAD
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- NZDUSD
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The Double Bottom pattern has been formed on NZDJPY 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 been formed on AUDJPY H1. It has the following characteristics: resistance level 95.80/95.20; support level 95.06/94.94; the width is 74 points. In the event
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The Double Bottom pattern has been formed on NZDJPY M30. Characteristics: the support level 86.63; the resistance level 86.92; the width of the pattern 29 points. If the resistance level
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