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

The Bearish pennant pattern has formed on the #MCD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 288.31, a trader will be able to successfully enter the sell position.

According to M5, #MCD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 292.03/291.57 is broken out, the instrument is likely to move toward 291.72.

The Bearish pennant pattern has formed on the #MCD H1 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 289.12; the projection of the flagpole height is equal to 1097 pips. In case the price breaks out the pattern’s bottom of 289.12, the downtrend is expected to continue for further level 288.71.

On the chart of #MCD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 297.63; the lower boundary 295.29; the width of the pattern 234 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 295.14 level.

According to the chart of M5, #MCD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 296.07/296.84 and upper border is 297.71/296.84. The pattern width is measured on the chart at -164 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and #MCD breaches the lower border, the price could continue its move toward 296.69.

According to the chart of M5, #MCD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 296.07 – 296.07 and upper border 297.67 – 297.67. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on #MCD M5; the upper boundary is 301.99; the lower boundary is 301.39. The width of the pattern is 55 points. In case of a break of the upper boundary 301.99, 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 Bullish pennant signal – Trading instrument #MCD M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 301.77, with the prospect of the next move being a projection of the flagpole height.

The Triple Bottom pattern has been formed on #MCD M5. It has the following characteristics: resistance level 295.60/293.92; support level 293.29/292.74; the width is 231 points. In the event of a breakdown of the resistance level of 295.60, the price is likely to continue an upward movement at least to 292.92.

The Double Bottom pattern has been formed on #MCD M15. Characteristics: the support level 292.77; the resistance level 293.92; the width of the pattern 115 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 118 points.