FX.co ★ Actual patterns. Technical analysis and trading recommendations
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Double Top
The Double Top pattern has been formed on AUDUSD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.7027 is broken, the downward movement will continue.
Bearish Symmetrical Triangle
According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.7049/0.7064 and upper border is 0.7076/0.7064. The pattern width is measured on the chart at -27 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 AUDUSD breaches the lower border, the price could continue its move toward 0.7049.
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Double Bottom
The Double Bottom pattern has been formed on AUDUSD M30; the upper boundary is 0.7066; the lower boundary is 0.7049. The width of the pattern is 17 points. In case of a break of the upper boundary 0.7066, 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.
Bearish Symmetrical Triangle
According to the chart of M30, AUDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.7049 is likely to encourage a continuation of the downward trend.
Triple Bottom
The Triple Bottom pattern has been formed on AUDUSD M15. It has the following characteristics: resistance level 0.7068/0.7061; support level 0.7049/0.7051; the width is 19 points. In the event of a breakdown of the resistance level of 0.7068, the price is likely to continue an upward movement at least to 0.7074.
