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

According to the chart of M5, #FB formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 638.36 – 638.36 and upper border 642.01 – 642.01. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on #FB M15. 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 642.01 is broken. The further movements will rely on the width of the current pattern 365 points.

On the chart of the #FB 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 646.48, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 502 points.

On the chart of #FB M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 640.99; the lower boundary 638.55; the width of the pattern 244 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 638.40 level.

The Double Bottom pattern has been formed on #FB M5. Characteristics: the support level 629.38; the resistance level 638.29; the width of the pattern 891 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 933 points.