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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.
Relevant patterns by InstaForex is an easy-to-use service which allows you to be aware of latest changes in the market and react to clues from the market in time. In our service you will always find the latest and most relevant patterns on any pair and any timeframe.
Double Bottom was formed on 24.07 at 20:30:41 (UTC+0) signal strength 3 of 5
The Double Bottom pattern has been formed on AUDCHF M30; the upper boundary is 0.6563; the lower boundary is 0.6531. The width of the pattern is 30 points. In case of a break of the upper boundary 0.6563, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.