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

The Bearish pennant pattern has formed on the NZDCHF M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.5164 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.

According to the chart of M5, NZDCHF formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.5172/0.5188 and upper border is 0.5208/0.5188. The pattern width is measured on the chart at -36 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and NZDCHF breaches the lower border, the price could continue its move toward 0.5173.

The Double Bottom pattern has been formed on NZDCHF M5; the upper boundary is 0.5186; the lower boundary is 0.5183. The width of the pattern is 3 points. In case of a break of the upper boundary 0.5186, 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.

According to the chart of M15, NZDCHF formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.5180/0.5190 and upper border is 0.5197/0.5190. The pattern width is measured on the chart at -17 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and NZDCHF breaches the lower border, the price could continue its move toward 0.5167.

According to the chart of D1, NZDCHF formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.5379/0.5201 whereas the lower border goes across 0.5056/0.5201. The pattern width is measured on the chart at 323 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.5201 is broken, the price could continue its move toward 0.5241.