FX.co ★ Actual patterns. Technical analysis and trading recommendations
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 Double Bottom pattern has been formed on NZDCAD M30. 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 0.8373 is broken. The further movements will rely on the width of the current pattern 12 points.
The Double Bottom pattern has been formed on NZDCAD M15; the upper boundary is 0.8373; the lower boundary is 0.8360. The width of the pattern is 12 points. In case of a break of the upper boundary 0.8373, 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 been formed on NZDCAD M5. It has the following characteristics: resistance level 0.8373/0.8369; support level 0.8361/0.8360; the width is 12 points. In the event of a breakdown of the resistance level of 0.8373, the price is likely to continue an upward movement at least to 0.8376.
Bullish Symmetrical Triangle
According to the chart of M5, AUDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 81.28 and 80.93 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 35 pips. Outlook: If the upper border 81.28 is broken, the price is likely to continue its move by 81.28 pips.
Bearish Symmetrical Triangle
According to the chart of M15, AUDJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 80.86 is likely to encourage a continuation of the downward trend.
According to the chart of M30, NZDUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.6565 – 0.6565 and upper border 0.6586 – 0.6586. In case the lower border is broken, the instrument is likely to follow the downward trend.
The Triple Bottom pattern has been formed on NZDUSD M30. It has the following characteristics: resistance level 0.6586/0.6580; support level 0.6565/0.6567; the width is 21 points. In the event of a breakdown of the resistance level of 0.6586, the price is likely to continue an upward movement at least to 0.6595.
According to the chart of M5, GOLD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1798.89, the lower border is 1796.89. The signal means that a long position should be opened above the upper border 1798.89 of the Bullish Rectangle.
The Triple Top pattern has formed on the chart of the GOLD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -7, support level -100, and pattern’s width 175. Forecast If the price breaks through the support level 1797.06, it is likely to move further down to 1798.74.
Bearish Symmetrical Triangle
According to the chart of M15, NZDJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 75.69 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -43 pips.