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

The Double Bottom pattern has been formed on #PEP M5. Characteristics: the support level 146.06; the resistance level 146.38; the width of the pattern 32 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 34 points.

According to the chart of M5, #PEP formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 146.39/145.89 whereas the lower border goes across 145.54/145.89. The pattern width is measured on the chart at 85 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 145.89 is broken, the price could continue its move toward 146.04.

According to the chart of M15, #PEP formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 145.13/145.64 whereas the upper border goes across 146.26/145.64. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of #PEP will breach the upper border to head for 145.87.

According to the chart of M5, #PEP formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 146.26/145.63 whereas the lower border goes across 145.13/145.63. The pattern width is measured on the chart at 113 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 145.63 is broken, the price could continue its move toward 145.78.

The Bullish pennant pattern is formed on the #PEP M30 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 142.62, a further uptrend is possible.

The Double Top reversal pattern has been formed on #PEP M5. Characteristics: the upper boundary 142.62; the lower boundary 141.61; the width of the pattern is 102 points. Sell trades are better to be opened below the lower boundary 141.61 with a possible movements towards the 141.46 level.

The technical pattern called Head and Shoulders has appeared on the chart of #PEP M5. There are weighty reasons to suggest that the price will surpass the Neckline 139.70/139.87 after the right shoulder has been formed. So, the trend is set to change with the price heading for 139.72.

The Double Top reversal pattern has been formed on #PEP M5. Characteristics: the upper boundary 140.00; the lower boundary 138.71; the width of the pattern is 133 points. Sell trades are better to be opened below the lower boundary 138.71 with a possible movements towards the 138.56 level.

On the chart of #PEP M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 139.65; the lower boundary 139.07; the width of the pattern 58 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 138.92 level.

The Bearish pennant pattern has formed on the #PEP H1 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 142.27 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.