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

The Bullish Flag pattern has been formed on USDCAD at M5. The lower boundary of the pattern is located at 1.3870/1.3862, while the higher boundary lies at 1.3876/1.3868. The projection of the flagpole is 16 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 1.3876 is broken, the price will move further upwards.

The Bullish pennant pattern is formed on the USDCAD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 1.3876, a further uptrend is possible.

On the chart of the #Bitcoin 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 85318.22, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 51692 points.

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 85975.05; the lower boundary 85560.25; the width of the pattern 41480 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 85560.10 level.

The Triple Bottom pattern has been formed on AUDUSD M5. It has the following characteristics: resistance level 0.6373/0.6361; support level 0.6347/0.6346; the width is 26 points. In the event of a breakdown of the resistance level of 0.6373, the price is likely to continue an upward movement at least to 0.6360.