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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Inverse Head and Shoulder
was formed on 02.09 at 18:50:16 (UTC+0)
signal strength 1 of 5
According to the chart of M5, GBPCHF produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.0739 while the median line of the Neck is set at 1.0758/1.0760. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GBPCHF will go towards 1.0775.
The M5 and M15 time frames may have more false entry points.
