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

The Double Bottom pattern has been formed on #MCD M5. Characteristics: the support level 290.20; the resistance level 291.67; the width of the pattern 147 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 159 points.

The Double Bottom pattern has been formed on #MCD M30. Characteristics: the support level 301.56; the resistance level 312.43; the width of the pattern 1087 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 1103 points.

According to the chart of D1, #MCD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 312.43, the lower border is 301.56. The signal means that a short position should be opened after fixing a price below the lower border 301.56 of the Bearish Rectangle.

According to the chart of D1, #MCD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 312.43 - 0.00 and support 301.56 – 301.56. In case the resistance level 301.56 - 301.56 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on #MCD D1; the upper boundary is 341.81; the lower boundary is 301.56. The width of the pattern is 3937 points. In case of a break of the upper boundary 341.81, 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.

According to the chart of M5, #MCD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 312.43/311.52 whereas the lower border goes across 310.70/311.52. The pattern width is measured on the chart at 173 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 311.52 is broken, the price could continue its move toward 311.67.

The Triple Bottom pattern has been formed on #MCD M5. It has the following characteristics: resistance level 303.40/302.94; support level 301.56/301.80; the width is 184 points. In the event of a breakdown of the resistance level of 303.40, the price is likely to continue an upward movement at least to 301.82.

According to the chart of M15, #MCD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 312.33 while the median line of the Neck is found at 309.35/311.32. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of #MCD will go towards 312.55

On the chart of the #MCD 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 310.43, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 44 points.

The Bearish Flag pattern has been formed on #MCD at D1. The lower boundary of the pattern is located at 305.71/313.25 while the upper boundary lies at 310.15/317.69. The projection of the flagpole is 2474 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 305.71 is broken, the price will move further downwards.