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

The Bearish pennant pattern has formed on the #MSFT M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 449.29, a trader will be able to successfully enter the sell position.

The Double Bottom pattern has been formed on #MSFT M15. Characteristics: the support level 457.22; the resistance level 463.09; the width of the pattern 587 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 556 points.

The Bearish pennant pattern has formed on the #MSFT M15 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 460.96; the projection of the flagpole height is equal to 976 pips. In case the price breaks out the pattern’s bottom of 460.96, the downtrend is expected to continue for further level 460.73.

According to the chart of M15, #MSFT formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 465.97 – 465.97 and upper border 471.20 – 471.20. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M5, #MSFT formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 471.20 - 0.00 and support 465.97 – 465.97. In case the resistance level 465.97 - 465.97 is broken, the instrument is likely to follow the bearish trend.