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

The Double Bottom pattern has been formed on #MCD M5. Characteristics: the support level 290.20; the resistance level 291.67; the width of the pattern 147 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 #MCD M30. Characteristics: the support level 301.56; the resistance level 312.43; the width of the pattern 1087 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 1103 points.

According to the chart of D1, #MCD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 312.43, the lower border is 301.56. The signal means that a short position should be opened after fixing a price below the lower border 301.56 of the Bearish Rectangle.

According to the chart of D1, #MCD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 312.43 - 0.00 and support 301.56 – 301.56. In case the resistance level 301.56 - 301.56 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on #MCD D1; the upper boundary is 341.81; the lower boundary is 301.56. The width of the pattern is 3937 points. In case of a break of the upper boundary 341.81, 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.