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

The Triple Bottom pattern has formed on the chart of GBPCHF M5. Features of the pattern: The lower line of the pattern has coordinates 1.0428 with the upper limit 1.0428/1.0426, the projection of the width is 4 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 1.0424, the price is most likely to continue the upward movement.

According to the chart of M5, NZDCAD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8142, the lower border is 0.8133. The signal means that a short position should be opened after fixing a price below the lower border 0.8133 of the Bearish Rectangle.

On the chart of SILVER M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 78.69; the lower boundary 77.88; the width of the pattern 815 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 77.86 level.

According to the chart of M30, GBPUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3473 - 0.0000 and support 1.3433 – 1.3433. In case the resistance level 1.3433 - 1.3433 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M15, GBPUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3473 - 0.0000 and support 1.3433 – 1.3433. In case the resistance level 1.3433 - 1.3433 is broken, the instrument is likely to follow the bearish trend.

On the chart of the AUDCHF M15 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 0.5463, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 11 points.

The Double Top reversal pattern has been formed on AUDCHF M15. Characteristics: the upper boundary 0.5473; the lower boundary 0.5463; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 0.5463 with a possible movements towards the 0.5440 level.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8167/0.8171 whereas the upper border goes across 0.8174/0.8171. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of NZDCAD will breach the upper border to head for 0.8186.

According to the chart of M5, #KO formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 78.59 is likely to encourage a continuation of the downward trend.

The Triple Bottom pattern has been formed on #MA M15. It has the following characteristics: resistance level 520.07/517.77; support level 516.07/516.20; the width is 400 points. In the event of a breakdown of the resistance level of 520.07, the price is likely to continue an upward movement at least to 516.39.