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

On the chart of the GBPCHF 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 1.0575, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 7 points.

The Double Bottom pattern has been formed on GBPCHF M5; the upper boundary is 1.0579; the lower boundary is 1.0570. The width of the pattern is 8 points. In case of a break of the upper boundary 1.0579, 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 M30, GBPCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.0609 - 0.0000 and support 1.0585 – 1.0585. In case the resistance level 1.0585 - 1.0585 is broken, the instrument is likely to follow the bearish trend.

According to the chart of H1, GBPCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.0609 - 0.0000 and support 1.0585 – 1.0585. In case the resistance level 1.0585 - 1.0585 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M5, GBPCHF formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.0585 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -25 pips.