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

The Bullish pennant pattern is formed on the AUDJPY M15 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 91.06, a further uptrend is possible.

According to the chart of M5, #PEP formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 142.99 and 142.53 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 46 pips. Outlook: If the upper border 142.99 is broken, the price is likely to continue its move by 142.88.

According to the chart of M5, #PEP formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 142.53/142.73 whereas the upper border goes across 142.99/142.73. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of #PEP will breach the upper border to head for 142.88.

The Double Top reversal pattern has been formed on #Bitcoin M5. Characteristics: the upper boundary 85053.67; the lower boundary 84685.87; the width of the pattern is 33901 points. Sell trades are better to be opened below the lower boundary 84685.87 with a possible movements towards the 84685.72 level.

The Double Top reversal pattern has been formed on NZDUSD M5. Characteristics: the upper boundary 0.5970; the lower boundary 0.5958; the width of the pattern is 11 points. Sell trades are better to be opened below the lower boundary 0.5958 with a possible movements towards the 0.5943 level.

On the chart of #KO M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 72.95; the lower boundary 72.70; the width of the pattern 25 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 72.55 level.

The AUDCAD M15 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.8855, the Neckline and the upward angle are at 0.8824/0.8828. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of AUDCAD will go towards 0.8806.

The Triple Top pattern has formed on the chart of the #EBAY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 65.75/65.96 with the upper limit 66.27/66.31; the projection of the width is 52 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 65.75, the price is most likely to continue the downward movement.

The Double Bottom pattern has been formed on GBPAUD M15; the upper boundary is 2.0801; the lower boundary is 2.0744. The width of the pattern is 60 points. In case of a break of the upper boundary 2.0801, 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 Bearish Flag pattern has been formed on the chart USDCAD D1 which signals that the downward trend will continue. If the price breaks below the low at 1.3767, then it is most likely to move further downwards. The price will likely move by the number of points which equals the length of the flag pole (20 points).