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

On the chart of NZDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8174; the lower boundary 0.8164; the width of the pattern 10 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8149 level.

The Double Bottom pattern has been formed on GBPAUD M5. 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 1.9062 is broken. The further movements will rely on the width of the current pattern 14 points.

The Bullish pennant pattern is formed on the NZDUSD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 0.5976, a further uptrend is possible.

According to the chart of M30, NZDCHF formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.4623 while the median line of the Neck is found at 0.4600/0.4609. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of NZDCHF will go towards 0.4653

The Bullish pennant signal – Trading instrument #EBAY M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 88.15, with the prospect of the next move being a projection of the flagpole height.

The Bearish pennant pattern has formed on the #MA M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 520.50 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.

The Double Bottom pattern has been formed on #NTDOY M5. Characteristics: the support level 13.70; the resistance level 13.79; the width of the pattern 9 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 9 points.

The Double Top reversal pattern has been formed on AUDCHF M30. Characteristics: the upper boundary 0.5467; the lower boundary 0.5451; the width of the pattern is 15 points. Sell trades are better to be opened below the lower boundary 0.5451 with a possible movements towards the 0.5421 level.

The Triple Bottom pattern has formed on the chart of GBPAUD M30. Features of the pattern: The lower line of the pattern has coordinates 1.9131 with the upper limit 1.9131/1.9129, the projection of the width is 52 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 1.9079, the price is most likely to continue the upward movement.

The Bearish pennant pattern has formed on the #INTC 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 44.11, a trader will be able to successfully enter the sell position.