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.
Relevant patterns by InstaTrade is an easy-to-use service which allows you to be aware of latest changes in the market and react to clues from the market in time. In our service you will always find the latest and most relevant patterns on any pair and any timeframe.
Head and Shoulders
was formed on 10.06 at 06:30:11 (UTC+0)
signal strength 1 of 5
According to the chart of M5, EURJPY formed the Head and Shoulders pattern. The Head’s top is set at 165.42 while the median line of the Neck is found at 165.03/165.08. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of EURJPY will go towards 164.93.
The M5 and M15 time frames may have more false entry points.
