FX.co ★ Actual patterns. Technical analysis and trading recommendations
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Bearish Rectangle
According to the chart of M30, GBPUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3473 - 0.0000 and support 1.3433 – 1.3433. In case the resistance level 1.3433 - 1.3433 is broken, the instrument is likely to follow the bearish trend.
Bearish Rectangle
According to the chart of M15, GBPUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3473 - 0.0000 and support 1.3433 – 1.3433. In case the resistance level 1.3433 - 1.3433 is broken, the instrument is likely to follow the bearish trend.
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Triple Top
On the chart of the AUDCHF 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 0.5463, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 11 points.
Double Top
The Double Top reversal pattern has been formed on AUDCHF M15. Characteristics: the upper boundary 0.5473; the lower boundary 0.5463; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 0.5463 with a possible movements towards the 0.5440 level.
Bullish Symmetrical Triangle
According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8167/0.8171 whereas the upper border goes across 0.8174/0.8171. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of NZDCAD will breach the upper border to head for 0.8186.