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 Bottom
was formed on 29.07 at 03:00:19 (UTC+0)
signal strength 3 of 5
The Double Bottom pattern has been formed on EURJPY M30; the upper boundary is 123.16; the lower boundary is 122.99. The width of the pattern is 18 points. In case of a break of the upper boundary 123.16, 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.
