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

On the chart of the AUDUSD M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.6539, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 10 points.

According to the chart of M5, AUDUSD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.6539 – 0.6539 and upper border 0.6550 – 0.6550. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top reversal pattern has been formed on AUDUSD M5. Characteristics: the upper boundary 0.6506; the lower boundary 0.6482; the width of the pattern is 24 points. Sell trades are better to be opened below the lower boundary 0.6482 with a possible movements towards the 0.6467 level.

The Double Bottom pattern has been formed on AUDUSD M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.6495 is broken. The further movements will rely on the width of the current pattern 8 points.

The Bullish pennant signal – Trading instrument AUDUSD M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 0.6534, with the prospect of the next move being a projection of the flagpole height.

According to the chart of M15, AUDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.6524, the lower border is 0.6510. The signal means that a long position should be opened above the upper border 0.6524 of the Bullish Rectangle.

The Double Bottom pattern has been formed on AUDUSD M5; the upper boundary is 0.6506; the lower boundary is 0.6501. The width of the pattern is 6 points. In case of a break of the upper boundary 0.6506, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

On the chart of AUDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.6517; the lower boundary 0.6498; the width of the pattern 19 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.6483 level.

According to the chart of M5, AUDUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.6500/0.6511 whereas the upper border goes across 0.6525/0.6511. 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 AUDUSD will breach the upper border to head for 0.6526.

According to the chart of H1, AUDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.6441 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -44 pips.