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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Bearish pennant
was formed on 09.10 at 20:50:41 (UTC+0)
signal strength 3 of 5
The Bearish pennant pattern has formed on the GBPJPY M30 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 203.17; the projection of the flagpole height is equal to 120 pips. In case the price breaks out the pattern’s bottom of 203.17, the downtrend is expected to continue for further level 202.87.
