FX.co ★ Patterns #GOOG | Alphabet Inc. Stock Price

According to the chart of M5, #GOOG formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 172.95, the lower border is 172.54. The signal means that a short position should be opened after fixing a price below the lower border 172.54 of the Bearish Rectangle.

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 172.89 is broken. The further movements will rely on the width of the current pattern 30 points.

The Double Top reversal pattern has been formed on #GOOG M15. Characteristics: the upper boundary 173.45; the lower boundary 172.14; the width of the pattern is 129 points. Sell trades are better to be opened below the lower boundary 172.14 with a possible movements towards the 171.91 level.

The Double Top reversal pattern has been formed on #GOOG M5. Characteristics: the upper boundary 173.45; the lower boundary 172.14; the width of the pattern is 129 points. Sell trades are better to be opened below the lower boundary 172.14 with a possible movements towards the 171.99 level.

According to the chart of M15, #GOOG formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 171.08 and 169.59 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 149 pips. Outlook: If the upper border 171.08 is broken, the price is likely to continue its move by 170.71.

According to the chart of M30, #GOOG formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 170.34, the lower border is 165.21. The signal means that a short position should be opened after fixing a price below the lower border 165.21 of the Bearish Rectangle.

The Bullish pennant pattern is formed on the #GOOG M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 170.34, a further uptrend is possible.

The Double Bottom pattern has been formed on #GOOG M15; the upper boundary is 167.05; the lower boundary is 166.39. The width of the pattern is 65 points. In case of a break of the upper boundary 167.05, 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 Triple Bottom pattern has formed on the chart of #GOOG M5. Features of the pattern: The lower line of the pattern has coordinates 166.95 with the upper limit 166.95/166.84, the projection of the width is 174 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 165.21, the price is most likely to continue the upward movement.

The Bearish pennant pattern has formed on the #GOOG M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 167.29 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.