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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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was formed on 08.01 at 20:05:14 (UTC+0)
signal strength 1 of 5
According to the chart of M5, NZDCHF formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.5127/0.5105 whereas the lower border goes across 0.5081/0.5105. The pattern width is measured on the chart at 46 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.5105 is broken, the price could continue its move toward 0.5120.
The M5 and M15 time frames may have more false entry points.
