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 08.05 at 19:05:16 (UTC+0)
signal strength 1 of 5
The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 193.36; the lower boundary 193.16; the width of the pattern is 20 points. Sell trades are better to be opened below the lower boundary 193.16 with a possible movements towards the 193.01 level.
The M5 and M15 time frames may have more false entry points.
