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

According to the chart of M5, #MCD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 307.79 while the median line of the Neck is set at 308.99/309.18. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of #MCD will go towards 309.33.

The Double Top reversal pattern has been formed on #MCD M15. Characteristics: the upper boundary 314.35; the lower boundary 309.52; the width of the pattern is 467 points. Sell trades are better to be opened below the lower boundary 309.52 with a possible movements towards the 309.30 level.

The Bullish pennant signal – Trading instrument #MCD M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 314.00, with the prospect of the next move being a projection of the flagpole height.

The Double Bottom pattern has been formed on #MCD M5. Characteristics: the support level 309.35; the resistance level 314.35; the width of the pattern 500 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 483 points.

The Double Bottom pattern has been formed on #MCD M5; the upper boundary is 310.46; the lower boundary is 309.35. The width of the pattern is 120 points. In case of a break of the upper boundary 310.46, 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.