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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 Double Top reversal pattern has been formed on #Bitcoin M5. Characteristics: the upper boundary 28836.83; the lower boundary 28774.45; the width of the pattern is 6468 points. Sell trades are better to be opened below the lower boundary 28774.45 with a possible movements towards the 28774.30 level.
The Bullish pennant graphic pattern has formed on the #Bitcoin 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 28890.18.
According to the chart of M5, EURGBP formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.8492 – 0.8492 and upper border 0.8501 – 0.8501. In case the upper border is broken, the instrument is likely to follow the upward trend.
The Double Top pattern has been formed on EURUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.0727 is broken, the downward movement will continue.
The Bullish pennant pattern is formed on the #MSFT H1 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 272.47, a further uptrend is possible.
The Bullish pennant signal – Trading instrument #MSFT M30, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 272.53, with the prospect of the next move being a projection of the flagpole height.
On the chart of the #FB 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 193.23, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 102 points.
The Double Bottom pattern has been formed on #NTDOY M5. 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 55.99 is broken. The further movements will rely on the width of the current pattern 11 points.
Bullish Symmetrical Triangle
According to the chart of M5, #AAPL formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 148.79/148.29 whereas the lower border goes across 147.89/148.29. The pattern width is measured on the chart at 90 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 148.29 is broken, the price could continue its move toward 148.
The Double Bottom pattern has been formed on SILVER M15. Characteristics: the support level 21.99; the resistance level 22.03; the width of the pattern 40 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 40 points.