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

The Triple Top pattern has formed on the chart of the NZDCAD M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 5, support level -5, and pattern’s width 21. Forecast If the price breaks through the support level 0.8215, it is likely to move further down to 0.8213.

The Double Top reversal pattern has been formed on EURCAD D1. Characteristics: the upper boundary 1.4782; the lower boundary 1.4661; the width of the pattern is 121 points. Sell trades are better to be opened below the lower boundary 1.4661 with a possible movements towards the 1.4621 level.

The Double Top reversal pattern has been formed on EURJPY H1. Characteristics: the upper boundary 165.32; the lower boundary 164.31; the width of the pattern is 99 points. Sell trades are better to be opened below the lower boundary 164.31 with a possible movements towards the 163.91 level.

The Double Bottom pattern has been formed on #Bitcoin M5; the upper boundary is 62883.62; the lower boundary is 62702.00. The width of the pattern is 20430 points. In case of a break of the upper boundary 62883.62, 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 M5, #Bitcoin formed the Head and Shoulders pattern. The Head’s top is set at 63365.00 while the median line of the Neck is found at 62800.84/62822.33. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of #Bitcoin will go towards 62822.18.

According to the chart of M30, EURJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 163.99 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -89 pips.

The Double Top pattern has been formed on GOLD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 2295.56 is broken, the downward movement will continue.

The Triple Top pattern has formed on the chart of the NZDCAD M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.8215/0.8220 with the upper limit 0.8236/0.8231; the projection of the width is 21 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.8215, the price is most likely to continue the downward movement.

According to the chart of M15, EURJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 163.99 is likely to encourage a continuation of the downward trend.

The Double Top reversal pattern has been formed on AUDJPY M15. Characteristics: the upper boundary 101.11; the lower boundary 100.94; the width of the pattern is 18 points. Sell trades are better to be opened below the lower boundary 100.94 with a possible movements towards the 100.71 level.