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

On the chart of the #GOOG 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 191.83, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 174 points.

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 184.98 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.

According to the chart of M5, #GOOG formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 197.32 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -244 pips.

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 197.32 – 197.32 and upper border 199.68 – 199.68. 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 199.68 is broken. The further movements will rely on the width of the current pattern 236 points.

The Double Bottom pattern has been formed on #GOOG M5; the upper boundary is 202.75; the lower boundary is 197.32. The width of the pattern is 519 points. In case of a break of the upper boundary 202.75, 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 M15, #GOOG formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 196.76 and support 193.69. In case the resistance level 196.76 - 196.76 is broken, the instrument is likely to follow the bullish trend.

On the chart of #GOOG M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 196.76; the lower boundary 193.69; the width of the pattern 307 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 193.46 level.

The Double Top reversal pattern has been formed on #GOOG M5. Characteristics: the upper boundary 196.64; the lower boundary 193.69; the width of the pattern is 307 points. Sell trades are better to be opened below the lower boundary 193.69 with a possible movements towards the 193.54 level.

The Bullish pennant signal – Trading instrument #GOOG H1, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 188.35, with the prospect of the next move being a projection of the flagpole height.