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

The Triple Bottom pattern has formed on the chart of #GOOG M5. Features of the pattern: The lower line of the pattern has coordinates 389.81 with the upper limit 389.81/387.92, the projection of the width is 584 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 383.97, the price is most likely to continue the upward movement.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 213.18; the lower boundary is 212.88. The width of the pattern is 32 points. In case of a break of the upper boundary 213.18, 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 Double Bottom pattern has been formed on #FB M5. Characteristics: the support level 605.16; the resistance level 613.69; the width of the pattern 853 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 893 points.

The Double Top reversal pattern has been formed on #MCD M5. Characteristics: the upper boundary 285.27; the lower boundary 284.21; the width of the pattern is 110 points. Sell trades are better to be opened below the lower boundary 284.21 with a possible movements towards the 284.06 level.

According to M15, NZDCHF is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.4600/0.4601 is broken out, the instrument is likely to move toward 0.4624.