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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Head and Shoulders
was formed on 16.04 at 15:00:08 (UTC+0)
signal strength 2 of 5
The NZDCAD M15 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.8248, the Neckline and the upward angle are at 0.8214/0.8214. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of NZDCAD will go towards 0.8191.
The M5 and M15 time frames may have more false entry points.
