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

The Triple Bottom pattern has formed on the chart of the NZDUSD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 0.5815/0.5812.

According to the chart of M5, NZDUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.5839 and 0.5815 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 24 pips. Outlook: If the upper border 0.5839 is broken, the price is likely to continue its move by 0.5843.

The Bearish pennant pattern has formed on the NZDUSD M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.5787 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.

The Double Bottom pattern has been formed on NZDUSD M5; the upper boundary is 0.5794; the lower boundary is 0.5788. The width of the pattern is 6 points. In case of a break of the upper boundary 0.5794, 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.

The Double Bottom pattern has been formed on NZDUSD H1. 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 0.5882 is broken. The further movements will rely on the width of the current pattern 25 points.