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

According to the chart of M15, GOLD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 4733.51 while the median line of the Neck is found at 4402.73/4656.78. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of GOLD will go towards 4733.73

The Triple Bottom pattern has formed on the chart of AUDCAD H1. Features of the pattern: The lower line of the pattern has coordinates 0.9496 with the upper limit 0.9496/0.9489, the projection of the width is 55 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 0.9441, the price is most likely to continue the upward movement.

The Double Bottom pattern has been formed on GBPUSD H1. Characteristics: the support level 1.3662; the resistance level 1.3704; the width of the pattern 42 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 45 points.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart SILVER M5. Forecast: if the price breaks above the pattern high at 79.44, then traders will be able to place a long deal with the target at 79.45.

The Bullish pennant signal – Trading instrument SILVER M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 79.44, with the prospect of the next move being a projection of the flagpole height.