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

According to the chart of M5, AUDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8843 and 0.8764 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 79 pips. Outlook: If the upper border 0.8843 is broken, the price is likely to continue its move by 0.8826.

According to the chart of H1, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8842/0.8865 and upper border is 0.8888/0.8865. The pattern width is measured on the chart at -46 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and AUDCAD breaches the lower border, the price could continue its move toward 0.8825.

The Bullish pennant pattern is formed on the AUDCAD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 0.8873, a further uptrend is possible.

The Double Bottom pattern has been formed on AUDCAD M5; the upper boundary is 0.8868; the lower boundary is 0.8857. The width of the pattern is 11 points. In case of a break of the upper boundary 0.8868, 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 H1, AUDCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.8842 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -46 pips.

The Triple Top pattern has formed on the chart of the AUDCAD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.8860/0.8864 with the upper limit 0.8867/0.8867; the projection of the width is 7 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.8860, the price is most likely to continue the downward movement.

The Bearish pennant pattern has formed on the AUDCAD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 0.8853; the projection of the flagpole height is equal to 36 pips. In case the price breaks out the pattern’s bottom of 0.8853, the downtrend is expected to continue for further level 0.8838.

The Double Bottom pattern has been formed on AUDCAD H1. 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 0.8873 is broken. The further movements will rely on the width of the current pattern 14 points.

The Double Bottom pattern has been formed on AUDCAD 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 0.8875 is broken. The further movements will rely on the width of the current pattern 8 points.

The Double Bottom pattern has been formed on AUDCAD H1; the upper boundary is 0.8899; the lower boundary is 0.8873. The width of the pattern is 24 points. In case of a break of the upper boundary 0.8899, 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.