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.
Double Top
was formed on 08.04 at 07:55:14 (UTC+0)
signal strength 1 of 5
On the chart of USDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 147.81; the lower boundary 147.59; the width of the pattern 22 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 147.44 level.
The M5 and M15 time frames may have more false entry points.
