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.
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Figure:
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Triangle
Rectangle
Pennant
Flag
Head and Shoulders
Double Top
Triple top
Timeframe:
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M5
M15
M30
H1
D1
Signal strength:
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High
Medium
Low
Signal direction:
All
Buy
Sell
AUDCAD
AUDCAD M5
Bullish pennant
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 0.9162, a further uptrend is possible.
AUDCAD M15
Double Bottom
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 0.9140 is broken. The further movements will rely on the width of the current pattern 13 points.
AUDCAD M15
Double Bottom
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 0.9107 is broken. The further movements will rely on the width of the current pattern 9 points.
AUDCAD M30
Double Bottom
The Double Bottom pattern has been formed on AUDCAD M30. Characteristics: the support level 0.9106; the resistance level 0.9130; the width of the pattern 24 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 24 points.
AUDCAD M15
Double Bottom
The Double Bottom pattern has been formed on AUDCAD M15; the upper boundary is 0.9130; the lower boundary is 0.9107. The width of the pattern is 24 points. In case of a break of the upper boundary 0.9130, 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.
AUDCAD M5
Bearish Flag
The Bearish Flag pattern has been formed on AUDCAD at M5. The lower boundary of the pattern is located at 0.9149/0.9157 while the upper boundary lies at 0.9157/0.9165. The projection of the flagpole is 20 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 0.9149 is broken, the price will move further downwards.
AUDCAD M5
Bearish pennant
The Bearish pennant pattern has formed on the AUDCAD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 0.9149, a trader will be able to successfully enter the sell position.
AUDCAD M5
Triple Bottom
The Triple Bottom pattern has formed on the chart of AUDCAD M5. Features of the pattern: The lower line of the pattern has coordinates 0.9174 with the upper limit 0.9174/0.9170, the projection of the width is 7 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 0.9167, the price is most likely to continue the upward movement.
AUDCAD H1
Bearish Symmetrical Triangle
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 0.9169 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -33 pips.
AUDCAD M30
Double Top
The Double Top reversal pattern has been formed on AUDCAD M30. Characteristics: the upper boundary 0.9198; the lower boundary 0.9172; the width of the pattern is 25 points. Sell trades are better to be opened below the lower boundary 0.9172 with a possible movements towards the 0.9142 level.