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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Bullish Rectangle
was formed on 12.08 at 00:11:17 (UTC+0)
signal strength 1 of 5
According to the chart of M5, GBPJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 199.03, the lower border is 198.84. The signal means that a long position should be opened above the upper border 199.03 of the Bullish Rectangle.
The M5 and M15 time frames may have more false entry points.
