FX.co ★ Actual patterns. Technical analysis and trading recommendations
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 #Bitcoin M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 19390.58 is broken, the downward movement will continue.
Head and Shoulders
According to the chart of M5, #Bitcoin formed the Head and Shoulders pattern. The Head’s top is set at 19300.13 while the median line of the Neck is found at 19153.48/19166.23. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of #Bitcoin will go towards 19166.08.
The Double Bottom pattern has been formed on #Bitcoin M30. Characteristics: the support level 19159.43; the resistance level 20169.63; the width of the pattern 101020 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 99740 points.
The Double Top reversal pattern has been formed on #Bitcoin M5. Characteristics: the upper boundary 19637.53; the lower boundary 19533.83; the width of the pattern is 9720 points. Sell trades are better to be opened below the lower boundary 19533.83 with a possible movements towards the 19533.68 level.
The Double Top reversal pattern has been formed on #Bitcoin M5. Characteristics: the upper boundary 19535.33; the lower boundary 19422.33; the width of the pattern is 11335 points. Sell trades are better to be opened below the lower boundary 19422.33 with a possible movements towards the 19422.18 level.
The Bullish Flag pattern which signals continuation of a trend has been formed on the chart #Bitcoin M5. Forecast: if the price breaks above the pattern high at 19530.68, then traders will be able to place a long deal with the target at 19530.83.
The Bullish pennant pattern is formed on the #Bitcoin M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 19530.68, a further uptrend is possible.
Bearish Symmetrical Triangle
According to the chart of M5, #Bitcoin formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 18959.28 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -12541 pips.
On the chart of the #Bitcoin 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 19963.93, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 30820 points.
On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 19222.33; the lower boundary 19124.98; the width of the pattern 9735 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 19124.83 level.