Actual patterns
Patterns are graphical models which are formed in the chart by the price. According to one of the technical analysis postulates, history (price movement) repeats itself. It means that the price movements are often similar in the same situations which makes it possible to predict the further development of the situation with a high probability.
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Double Bottom
was formed on 16.05 at 01:45:15 (UTC+0)
signal strength 2 of 5
The Double Bottom pattern has been formed on EURJPY M15. Characteristics: the support level 162.73; the resistance level 162.97; the width of the pattern 24 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 23 points.
The M5 and M15 time frames may have more false entry points.
