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

On the chart of the AUDUSD 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 0.6539, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 10 points.

According to the chart of M5, AUDUSD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.6539 – 0.6539 and upper border 0.6550 – 0.6550. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top reversal pattern has been formed on AUDUSD M5. Characteristics: the upper boundary 0.6506; the lower boundary 0.6482; the width of the pattern is 24 points. Sell trades are better to be opened below the lower boundary 0.6482 with a possible movements towards the 0.6467 level.

The Double Bottom pattern has been formed on AUDUSD 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 0.6495 is broken. The further movements will rely on the width of the current pattern 8 points.

The Bullish pennant signal – Trading instrument AUDUSD M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 0.6534, with the prospect of the next move being a projection of the flagpole height.