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

The Double Top reversal pattern has been formed on #AMZN M5. Characteristics: the upper boundary 232.89; the lower boundary 232.44; the width of the pattern is 41 points. Sell trades are better to be opened below the lower boundary 232.44 with a possible movements towards the 232.29 level.

The Double Bottom pattern has been formed on #AMZN M5. Characteristics: the support level 226.69; the resistance level 228.24; the width of the pattern 155 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 159 points.

The Double Bottom pattern has been formed on #AMZN 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 211.81 is broken. The further movements will rely on the width of the current pattern 51 points.

According to the chart of M5, #AMZN formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 213.73, the lower border is 212.96. The signal means that a long position should be opened above the upper border 213.73 of the Bullish Rectangle.

The Bullish pennant signal – Trading instrument #AMZN M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 214.38, with the prospect of the next move being a projection of the flagpole height.