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

The Double Bottom pattern has been formed on #FB H1; the upper boundary is 559.81; the lower boundary is 550.75. The width of the pattern is 972 points. In case of a break of the upper boundary 559.81, 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.

The Double Top reversal pattern has been formed on #FB D1. Characteristics: the upper boundary 600.45; the lower boundary 555.23; the width of the pattern is 4427 points. Sell trades are better to be opened below the lower boundary 555.23 with a possible movements towards the 554.83 level.

According to the chart of M5, #FB formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 550.09/554.86 and upper border is 561.51/554.86. The pattern width is measured on the chart at -1142 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and #FB breaches the lower border, the price could continue its move toward 554.71.

On the chart of #FB D1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 599.50; the lower boundary 555.23; the width of the pattern 4427 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 554.83 level.

The Double Bottom pattern has been formed on #FB M5; the upper boundary is 557.20; the lower boundary is 552.03. The width of the pattern is 517 points. In case of a break of the upper boundary 557.20, 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.

According to the chart of D1, #FB formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 602.98, the lower border is 555.23. The signal means that a long position should be opened above the upper border 602.98 of the Bullish Rectangle.

The Double Top reversal pattern has been formed on #FB D1. Characteristics: the upper boundary 600.45; the lower boundary 555.23; the width of the pattern is 4427 points. Sell trades are better to be opened below the lower boundary 555.23 with a possible movements towards the 554.83 level.

The Bearish pennant pattern has formed on the #FB M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 574.37; the projection of the flagpole height is equal to 819 pips. In case the price breaks out the pattern’s bottom of 574.37, the downtrend is expected to continue for further level 574.22.

According to the chart of D1, #FB formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 555.23 – 555.23 and upper border 602.98 – 602.98. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top pattern has been formed on #FB D1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 555.23 is broken, the downward movement will continue.