FX.co ★ Patterns #GOOG | Alphabet Inc. Stock Price

According to the chart of M5, #GOOG formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 347.16 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on #GOOG M5; the upper boundary is 349.47; the lower boundary is 347.16. The width of the pattern is 227 points. In case of a break of the upper boundary 349.47, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The Bearish pennant pattern has formed on the #GOOG M30 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 341.09, a trader will be able to successfully enter the sell position.

According to the chart of M5, #GOOG formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 344.41 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -356 pips.

The Bearish pennant pattern has formed on the #GOOG M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 341.09 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.

According to the chart of M5, #GOOG formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 372.02 and support 368.38. In case the resistance level 372.02 - 372.02 is broken, the instrument is likely to follow the bullish trend.

On the chart of #GOOG M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 372.02; the lower boundary 368.38; the width of the pattern 364 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 368.15 level.

The Double Top reversal pattern has been formed on #GOOG M5. Characteristics: the upper boundary 372.00; the lower boundary 368.38; the width of the pattern is 364 points. Sell trades are better to be opened below the lower boundary 368.38 with a possible movements towards the 368.23 level.

The Double Bottom pattern has been formed on #GOOG H1. 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 356.56 is broken. The further movements will rely on the width of the current pattern 800 points.

The Bearish pennant pattern has formed on the #GOOG 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 359.64, a trader will be able to successfully enter the sell position.