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

The Bullish Flag pattern has been formed on #GOOG at M15. The lower boundary of the pattern is located at 335.31/333.61, while the higher boundary lies at 337.17/335.47. The projection of the flagpole is 590 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 337.17 is broken, the price will move further upwards.

The Bullish pennant signal – Trading instrument #GOOG M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 337.17, with the prospect of the next move being a projection of the flagpole height.

The Double Top pattern has been formed on #GOOG M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 333.53 is broken, the downward movement will continue.

According to the chart of M15, #GOOG formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 324.44 – 324.44 and upper border 330.01 – 330.01. In case the upper border is broken, the instrument is likely to follow the upward trend.

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 330.20.

According to the chart of M5, #GOOG formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 317.39/319.64 and upper border is 321.95/319.64. The pattern width is measured on the chart at -456 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 #GOOG breaches the lower border, the price could continue its move toward 319.49.

The Double Bottom pattern has been formed on #GOOG M15. Characteristics: the support level 317.63; the resistance level 323.84; the width of the pattern 621 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 645 points.

The Double Bottom pattern has been formed on #GOOG M5. Characteristics: the support level 317.63; the resistance level 323.84; the width of the pattern 621 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 645 points.

According to the chart of M5, #GOOG formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 347.16 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on #GOOG M5; the upper boundary is 349.47; the lower boundary is 347.16. The width of the pattern is 227 points. In case of a break of the upper boundary 349.47, 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.