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Technical Analysis Patterns
There is nothing more precious to a trader than an ability to predict a further price movement. Technical analysis is a key to your successful transaction. At the same time, you can rely on common and recurring situations that arise in the same circumstances. Our Technical Analysis Patterns section features all trading recommendations based on the technical analysis patterns that help traders make projections and turn a profit.
Head and Shoulders
The Bullish pennant graphic pattern has formed on the GBPAUD M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 1.7702.
The Bullish pennant pattern is formed on the #AAPL M15 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 146.18, a further uptrend is possible.
On the chart of the #MA 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 301.29, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 212 points.
The Bullish pennant graphic pattern has formed on the #GOOG M15 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 102.87.
The Bearish pennant pattern has formed on the EURGBP M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.8693 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.
The Triple Top pattern has formed on the chart of the #AMZN M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -29, support level -53, and pattern’s width 93. Forecast If the price breaks through the support level 121.71, it is likely to move further down to 122.79.
The Bullish pennant pattern is formed on the #MCD M15 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 241.31, a further uptrend is possible.
Bearish Symmetrical Triangle
According to the chart of M15, AUDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8786 is likely to encourage a continuation of the downward trend.
The Bearish pennant pattern has formed on the #NTDOY M15 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 10.29; the projection of the flagpole height is equal to 3988 pips. In case the price breaks out the pattern’s bottom of 10.29, the downtrend is expected to continue for further level 10.06.
The Double Top reversal pattern has been formed on GBPAUD M15. Characteristics: the upper boundary 1.7589; the lower boundary 1.7526; the width of the pattern is 67 points. Sell trades are better to be opened below the lower boundary 1.7526 with a possible movements towards the 1.7503 level.