FX.co ★ Actual patterns. Technical analysis and trading recommendations
实际图案
Bearish Symmetrical Triangle
According to the chart of M5, #AMZN formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 254.32/257.96 and upper border is 262.68/257.96. The pattern width is measured on the chart at -836 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 #AMZN breaches the lower border, the price could continue its move toward 257.81.
Bearish pennant
The Bearish pennant pattern has formed on the #AMZN M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 254.02, a trader will be able to successfully enter the sell position.
Triple Top
On the chart of the #AMZN 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 271.37, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 194 points.
Bullish Symmetrical Triangle
According to the chart of M5, #AMZN formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 270.73/269.23 whereas the lower border goes across 267.32/269.23. The pattern width is measured on the chart at 341 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 269.23 is broken, the price could continue its move toward 269.38.
Inverse Head and Shoulder
According to the chart of M5, #AMZN formed the Inverse Head and Shoulder pattern. The Head’s top is set at 259.86 while the median line of the Neck is found at 256.13/257.80. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of #AMZN will go towards 260.01
