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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 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 1.1923 is broken, the downward movement will continue.
The Double Bottom pattern has been formed on #Bitcoin H1; the upper boundary is 47580.30; the lower boundary is 46502.80. The width of the pattern is 122099 points. In case of a break of the upper boundary 47580.30, 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.
Inverse Head and Shoulder
According to the chart of M5, AUDCAD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.9745 while the median line of the Neck is found at 0.9726/0.9731. 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 AUDCAD will go towards 0.9760
Bullish Symmetrical Triangle
According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1699.87 and 1689.22 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 1065 pips. Outlook: If the upper border 1699.87 is broken, the price is likely to continue its move by 1695.26 pips.
The Bearish pennant pattern has formed on the AUDCAD M30 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 0.9717; the projection of the flagpole height is equal to 56 pips. In case the price breaks out the pattern’s bottom of 0.9717, the downtrend is expected to continue for further level 0.9687.
The Double Bottom pattern has been formed on AUDUSD M5. Characteristics: the support level 0.7661; the resistance level 0.7677; the width of the pattern 16 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 15 points.
The Double Top pattern has been formed on GBPAUD M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.7969 is broken, the downward movement will continue.
The Triple Bottom pattern has formed on the chart of the SILVER H1 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 25.39/25.27.
Bearish Symmetrical Triangle
According to the chart of M5, EURJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 128.93 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -72 pips.
The Double Bottom pattern has been formed on EURCAD M15. 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 1.5148 is broken. The further movements will rely on the width of the current pattern 19 points.