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

The Double Top reversal pattern has been formed on #GOOG M15. Characteristics: the upper boundary 309.06; the lower boundary 307.23; the width of the pattern is 163 points. Sell trades are better to be opened below the lower boundary 307.23 with a possible movements towards the 307.01 level.

The Bullish pennant signal – Trading instrument #GOOG M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 306.75, with the prospect of the next move being a projection of the flagpole height.

The Double Top reversal pattern has been formed on #GOOG M5. Characteristics: the upper boundary 301.56; the lower boundary 299.72; the width of the pattern is 181 points. Sell trades are better to be opened below the lower boundary 299.72 with a possible movements towards the 299.57 level.

The Triple Bottom pattern has formed on the chart of #GOOG M5. Features of the pattern: The lower line of the pattern has coordinates 300.35 with the upper limit 300.35/300.24, the projection of the width is 211 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 298.24, the price is most likely to continue the upward movement.

According to the chart of M5, #GOOG formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 298.14 – 298.14 and upper border 300.35 – 300.35. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on #GOOG 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 300.35 is broken. The further movements will rely on the width of the current pattern 211 points.

The Double Bottom pattern has been formed on #GOOG M5. Characteristics: the support level 299.08; the resistance level 301.94; the width of the pattern 286 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 309 points.

The Bearish pennant pattern has formed on the #GOOG H1 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 295.02; the projection of the flagpole height is equal to 1301 pips. In case the price breaks out the pattern’s bottom of 295.02, the downtrend is expected to continue for further level 294.61.

The Triple Top pattern has formed on the chart of the #GOOG M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -12, support level -105, and pattern’s width 235. Forecast If the price breaks through the support level 300.58, it is likely to move further down to 302.97.

The Double Bottom pattern has been formed on #GOOG M5. Characteristics: the support level 309.54; the resistance level 313.54; the width of the pattern 400 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 399 points.