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

The Double Bottom pattern has been formed on #MSFT M15. Characteristics: the support level 457.22; the resistance level 463.09; the width of the pattern 587 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 556 points.

The Bearish pennant pattern has formed on the #MSFT M15 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 460.96; the projection of the flagpole height is equal to 976 pips. In case the price breaks out the pattern’s bottom of 460.96, the downtrend is expected to continue for further level 460.73.

According to the chart of M15, #MSFT formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 465.97 – 465.97 and upper border 471.20 – 471.20. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M5, #MSFT formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 471.20 - 0.00 and support 465.97 – 465.97. In case the resistance level 465.97 - 465.97 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on #MSFT M15. Characteristics: the support level 465.97; the resistance level 471.20; the width of the pattern 523 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 519 points.

The Triple Bottom pattern has formed on the chart of #MSFT M5. Features of the pattern: The lower line of the pattern has coordinates 471.20 with the upper limit 471.20/468.95, the projection of the width is 523 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 465.97, the price is most likely to continue the upward movement.

The Bearish pennant pattern has formed on the #MSFT M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 465.97 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 Double Top reversal pattern has been formed on #MSFT M5. Characteristics: the upper boundary 479.26; the lower boundary 478.28; the width of the pattern is 98 points. Sell trades are better to be opened below the lower boundary 478.28 with a possible movements towards the 478.13 level.

According to the chart of M15, #MSFT produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 472.22 while the median line of the Neck is set at 478.83/478.07. 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 #MSFT will go towards 478.30.

The Double Bottom pattern has been formed on #MSFT 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 478.91 is broken. The further movements will rely on the width of the current pattern 300 points.