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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Head and Shoulders
was formed on 01.09 at 08:01:00 (UTC+0)
signal strength 2 of 5
The technical pattern called Head and Shoulders has appeared on the chart of AUDJPY M15. There are weighty reasons to suggest that the price will surpass the Neckline 96.07/96.07 after the right shoulder has been formed. So, the trend is set to change with the price heading for 95.85.
The M5 and M15 time frames may have more false entry points.
