signal strength 2 of 5
The Bearish pennant pattern has formed on the AUDCHF M15 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.5222 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.
The M5 and M15 time frames may have more false entry points.
See Also
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- Double Top
- Flag
- Head and Shoulders
- Pennant
- Rectangle
- Triangle
- Triple top
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The Bullish Flag pattern has been formed on AUDCHF at M30. The lower boundary of the pattern is located at 0.5236/0.5230, while the higher boundary lies at 0.5242/0.5236. The projection
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The Bullish pennant pattern is formed on the AUDCHF M30 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high
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The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 198.31; the resistance level 198.40; the width of the pattern 9 points. If the resistance level
The M5 and M15 time frames may have more false entry points.
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