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 Top
was formed on 03.06 at 12:45:53 (UTC+0)
signal strength 1 of 5
On the chart of NZDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 85.80; the lower boundary 85.71; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 85.56 level.
The M5 and M15 time frames may have more false entry points.
