FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Bearish pennant pattern has formed on the #MA M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 520.50 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Double Bottom pattern has been formed on #NTDOY M5. Characteristics: the support level 13.70; the resistance level 13.79; the width of the pattern 9 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 9 points.

The Double Top reversal pattern has been formed on AUDCHF M30. Characteristics: the upper boundary 0.5467; the lower boundary 0.5451; the width of the pattern is 15 points. Sell trades are better to be opened below the lower boundary 0.5451 with a possible movements towards the 0.5421 level.

The Triple Bottom pattern has formed on the chart of GBPAUD M30. Features of the pattern: The lower line of the pattern has coordinates 1.9131 with the upper limit 1.9131/1.9129, the projection of the width is 52 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 1.9079, the price is most likely to continue the upward movement.

The Bearish pennant pattern has formed on the #INTC M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 44.11, a trader will be able to successfully enter the sell position.

According to the chart of H1, #KO formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 77.91/79.39 whereas the upper border goes across 80.40/79.39. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of #KO will breach the upper border to head for 79.79.

The Double Bottom pattern has been formed on AUDCAD M15. Characteristics: the support level 0.9637; the resistance level 0.9681; the width of the pattern 44 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 45 points.

According to the chart of M15, NZDCHF formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.4623 and 0.4612 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 11 pips. Outlook: If the upper border 0.4623 is broken, the price is likely to continue its move by 0.4640.

According to the chart of M30, GBPAUD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.9079 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -53 pips.

The Bearish Flag pattern has been formed on GBPUSD at M5. The lower boundary of the pattern is located at 1.3482/1.3490 while the upper boundary lies at 1.3488/1.3496. The projection of the flagpole is 24 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.3482 is broken, the price will move further downwards.