FX.co ★ Actual patterns. Technical analysis and trading recommendations
实际图案
Bearish Rectangle
According to the chart of M5, AUDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.9830 - 0.0000 and support 0.9820 – 0.9820. In case the resistance level 0.9820 - 0.9820 is broken, the instrument is likely to follow the bearish trend.
Bullish Symmetrical Triangle
According to the chart of M5, NZDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 93.57 and 93.13 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 44 pips. Outlook: If the upper border 93.57 is broken, the price is likely to continue its move by 93.51.
Bullish Symmetrical Triangle
According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 4310.25/4329.45 whereas the upper border goes across 4350.97/4329.45. 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 GOLD will breach the upper border to head for 4329.60.
Triple Top
On the chart of the USDJPY M5 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 160.17, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 6 points.
Double Top
The Double Top reversal pattern has been formed on EURUSD M30. Characteristics: the upper boundary 1.1554; the lower boundary 1.1527; the width of the pattern is 26 points. Sell trades are better to be opened below the lower boundary 1.1527 with a possible movements towards the 1.1497 level.
