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

The Triple Bottom pattern has formed on the chart of GBPCHF M30. Features of the pattern: The lower line of the pattern has coordinates 1.0601 with the upper limit 1.0601/1.0595, the projection of the width is 13 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 1.0588, the price is most likely to continue the upward movement.

According to the chart of M15, GBPCHF formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.0588 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -8 pips.

According to the chart of M15, GBPCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.0601 - 0.0000 and support 1.0588 – 1.0588. In case the resistance level 1.0588 - 1.0588 is broken, the instrument is likely to follow the bearish trend.

The Double Top reversal pattern has been formed on GBPCHF H1. Characteristics: the upper boundary 1.0630; the lower boundary 1.0609; the width of the pattern is 20 points. Sell trades are better to be opened below the lower boundary 1.0609 with a possible movements towards the 1.0569 level.

On the chart of the GBPCHF M15 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 1.0501, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 37 points.

The Bearish pennant pattern has formed on the GBPCHF M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 1.0522; the projection of the flagpole height is equal to 11 pips. In case the price breaks out the pattern’s bottom of 1.0522, the downtrend is expected to continue for further level 1.0507.

The Double Bottom pattern has been formed on GBPCHF H1. Characteristics: the support level 1.0529; the resistance level 1.0538; 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 10 points.

The Triple Bottom pattern has been formed on GBPCHF M15. It has the following characteristics: resistance level 1.0537/1.0536; support level 1.0530/1.0529; the width is 7 points. In the event of a breakdown of the resistance level of 1.0537, the price is likely to continue an upward movement at least to 1.0553.

The Double Bottom pattern has been formed on GBPCHF 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 1.0537 is broken. The further movements will rely on the width of the current pattern 7 points.

The Double Bottom pattern has been formed on GBPCHF 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 1.0537 is broken. The further movements will rely on the width of the current pattern 7 points.