FX.co ★ EURCAD M5: Triple Bottom

EURCAD M5: Triple Bottom

Triple BottomThe Triple Bottom pattern has formed on the chart of EURCAD M5. Features of the pattern: The lower line of the pattern has coordinates 1.4993 with the upper limit 1.4993/1.4988, the projection of the width is 15 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 1.4978, the price is most likely to continue the upward movement.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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