FX.co ★ Actual patterns. Technical analysis and trading recommendations
实际图案
Bullish Rectangle
According to the chart of M5, NZDCAD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8161 and support 0.8152. In case the resistance level 0.8161 - 0.8161 is broken, the instrument is likely to follow the bullish trend.
Double Top
The Double Top reversal pattern has been formed on NZDCAD M5. Characteristics: the upper boundary 0.8161; the lower boundary 0.8152; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 0.8152 with a possible movements towards the 0.8137 level.
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Double Bottom
The Double Bottom pattern has been formed on NZDCAD M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.8144 is broken. The further movements will rely on the width of the current pattern 18 points.
Bearish pennant
The Bearish pennant pattern has formed on the NZDCAD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 0.8122, a trader will be able to successfully enter the sell position.
Bearish Symmetrical Triangle
According to the chart of M30, NZDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8131 is likely to encourage a continuation of the downward trend.
