FX.co ★ Actual patterns. Technical analysis and trading recommendations
实际图案
Triple Top
The Triple Top pattern has formed on the chart of the NZDCAD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 0, support level -3, and pattern’s width 11. Forecast If the price breaks through the support level 0.8083, it is likely to move further down to 0.8079.
Double Bottom
The Double Bottom pattern has been formed on NZDCAD H1; the upper boundary is 0.8087; the lower boundary is 0.8065. The width of the pattern is 21 points. In case of a break of the upper boundary 0.8087, 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.
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Bearish Flag
The Bearish Flag pattern has been formed on the chart NZDCAD M30 which signals that the downward trend will continue. If the price breaks below the low at 0.8070, then it is most likely to move further downwards. The price will likely move by the number of points which equals the length of the flag pole (20 points).
Bearish pennant
The Bearish pennant pattern has formed on the NZDCAD M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.8070 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.
Double Bottom
The Double Bottom pattern has been formed on NZDCAD M15; the upper boundary is 0.8113; the lower boundary is 0.8077. The width of the pattern is 35 points. In case of a break of the upper boundary 0.8113, 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.
