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 05.09 at 05:05:31 (UTC+0)
signal strength 1 of 5
The Double Top reversal pattern has been formed on AUDUSD M5. Characteristics: the upper boundary 0.6532; the lower boundary 0.6526; the width of the pattern is 6 points. Sell trades are better to be opened below the lower boundary 0.6526 with a possible movements towards the 0.6511 level.
The M5 and M15 time frames may have more false entry points.
