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

On the chart of #FB M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 676.21; the lower boundary 672.84; the width of the pattern 337 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 672.69 level.

The Triple Bottom pattern has been formed on #FB M5. It has the following characteristics: resistance level 686.47/686.04; support level 681.90/682.04; the width is 457 points. In the event of a breakdown of the resistance level of 686.47, the price is likely to continue an upward movement at least to 682.34.

The Double Bottom pattern has been formed on #FB M5. Characteristics: the support level 682.19; the resistance level 686.04; the width of the pattern 385 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 400 points.

According to the chart of M5, #FB formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 681.90 – 681.90 and upper border 687.71 – 687.71. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top reversal pattern has been formed on #FB M5. Characteristics: the upper boundary 687.71; the lower boundary 682.27; the width of the pattern is 536 points. Sell trades are better to be opened below the lower boundary 682.27 with a possible movements towards the 682.12 level.