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.
Relevant patterns by InstaTrade 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.
Bearish Rectangle
was formed on 20.08 at 05:47:23 (UTC+0)
signal strength 1 of 5
According to the chart of M5, AUDJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 94.99 - 0.00 and support 94.81 – 94.81. In case the resistance level 94.81 - 94.81 is broken, the instrument is likely to follow the bearish trend.
The M5 and M15 time frames may have more false entry points.
