The M5 and M15 time frames may have more false entry points.
FX.co ★ NZDUSD M5: Double Top
Signal strength 1 of 5
NZDUSD M5: Double Top
On the chart of NZDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.7194; the lower boundary 0.7188; the width of the pattern 6 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.7173 level.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade