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

The Triple Top pattern has formed on the chart of the #MA M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 517.08/519.18 with the upper limit 521.98/521.60; the projection of the width is 490 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 517.08, the price is most likely to continue the downward movement.

According to D1, #MA is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 513.50/511.73 is broken out, the instrument is likely to move toward 512.13.

According to D1, #MA is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 513.50/511.73 is broken out, the instrument is likely to move toward 512.13.

The Triple Top pattern has formed on the chart of the #MA M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 17, support level -333, and pattern’s width 434. Forecast If the price breaks through the support level 508.91, it is likely to move further down to 513.75.

The Bullish pennant signal – Trading instrument #MA M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 513.25, with the prospect of the next move being a projection of the flagpole height.

The Double Bottom pattern has been formed on #MA M5. Characteristics: the support level 499.79; the resistance level 501.71; the width of the pattern 192 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 187 points.

According to the chart of H1, #MA produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 480.49 while the median line of the Neck is set at 504.59/500.92. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of #MA will go towards 501.32.

The Bearish pennant pattern has formed on the #MA M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 502.97 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 Bearish pennant pattern has formed on the #MA H1 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 503.17; the projection of the flagpole height is equal to 1611 pips. In case the price breaks out the pattern’s bottom of 503.17, the downtrend is expected to continue for further level 502.77.

The Bearish pennant pattern has formed on the #MA 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 508.90, a trader will be able to successfully enter the sell position.