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 Rectangle
was formed on 08.05 at 23:17:12 (UTC+0)
signal strength 2 of 5
According to the chart of M15, EURUSD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.1230, the lower border is 1.1212. The signal means that a short position should be opened after fixing a price below the lower border 1.1212 of the Bearish Rectangle.
The M5 and M15 time frames may have more false entry points.
