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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 Bottom pattern has been formed on #FB M5. Characteristics: the support level 288.78; the resistance level 291.54; the width of the pattern 276 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 293 points.
The Bullish pennant graphic pattern has formed on the #FB H1 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 293.24.
On the chart of #FB M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 281.53; the lower boundary 277.86; the width of the pattern 367 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 277.64 level.
According to the chart of M15, #FB formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 277.86 – 277.86 and upper border 282.08 – 282.08. In case the upper border is broken, the instrument is likely to follow the upward trend.
The Double Top reversal pattern has been formed on #FB M5. Characteristics: the upper boundary 281.20; the lower boundary 278.25; the width of the pattern is 293 points. Sell trades are better to be opened below the lower boundary 278.25 with a possible movements towards the 278.10 level.
The Bullish pennant signal – Trading instrument #FB M30, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 283.49, with the prospect of the next move being a projection of the flagpole height.
The Double Bottom pattern has been formed on #FB M15. Characteristics: the support level 264.32; the resistance level 277.85; the width of the pattern 1353 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 1389 points.
The Double Top reversal pattern has been formed on #FB M30. Characteristics: the upper boundary 268.48; the lower boundary 265.07; the width of the pattern is 366 points. Sell trades are better to be opened below the lower boundary 265.07 with a possible movements towards the 264.77 level.
The Double Bottom pattern has been formed on #FB 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 257.71 is broken. The further movements will rely on the width of the current pattern 268 points.
The Triple Bottom pattern has formed on the chart of the #FB M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 260.83/257.73.