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

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 63799.59; the lower boundary 63591.71; the width of the pattern 20788 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 63591.56 level.

The Double Bottom pattern has been formed on EURGBP D1. 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 0.8788 is broken. The further movements will rely on the width of the current pattern 177 points.

The Double Bottom pattern has been formed on EURNZD D1; the upper boundary is 1.9851; the lower boundary is 1.9509. The width of the pattern is 355 points. In case of a break of the upper boundary 1.9851, 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.

According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 4178.08 and 4128.42 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 4966 pips. Outlook: If the upper border 4178.08 is broken, the price is likely to continue its move by 4151.69.

According to the chart of M5, GBPJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 213.24 – 213.24 and upper border 213.49 – 213.49. In case the upper border is broken, the instrument is likely to follow the upward trend.