FX.co ★ Actual patterns. Technical analysis and trading recommendations
实际图案
Bearish pennant
The Bearish pennant pattern has formed on the GBPAUD M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 1.8943 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.
Triple Top
On the chart of the GBPAUD H1 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 1.9055, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 58 points.
Bullish Symmetrical Triangle
According to the chart of M5, GBPAUD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 1.9115/1.9093 whereas the lower border goes across 1.9078/1.9093. The pattern width is measured on the chart at 37 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 1.9093 is broken, the price could continue its move toward 1.9108.
Double Bottom
The Double Bottom pattern has been formed on GBPAUD M5; the upper boundary is 1.9097; the lower boundary is 1.9085. The width of the pattern is 11 points. In case of a break of the upper boundary 1.9097, 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.
Head and Shoulders
According to the chart of M5, GBPAUD formed the Head and Shoulders pattern. The Head’s top is set at 1.9115 while the median line of the Neck is found at 1.9099/1.9101. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of GBPAUD will go towards 1.9086.
