FX.co ★ Actual patterns. Technical analysis and trading recommendations
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Bearish pennant
The Bearish pennant pattern has formed on the #NTDOY H1 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 22.15 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.
Bearish pennant
The Bearish pennant pattern has formed on the #NTDOY M15 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 22.12; the projection of the flagpole height is equal to 60 pips. In case the price breaks out the pattern’s bottom of 22.12, the downtrend is expected to continue for further level 21.90.
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Bullish Rectangle
According to the chart of M5, AUDJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 97.90 – 97.90 and upper border 98.04 – 98.04. In case the upper border is broken, the instrument is likely to follow the upward trend.
Double Top
On the chart of AUDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 98.04; the lower boundary 97.91; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 97.76 level.
Double Top
On the chart of AUDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9165; the lower boundary 0.9159; the width of the pattern 6 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9144 level.
