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

The Double Bottom pattern has been formed on #NTDOY M5. Characteristics: the support level 13.70; the resistance level 13.79; the width of the pattern 9 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 9 points.

The Triple Bottom pattern has formed on the chart of the #NTDOY H1 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 14.62/13.83.

The Bearish pennant pattern has formed on the #NTDOY M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 13.56; the projection of the flagpole height is equal to 22 pips. In case the price breaks out the pattern’s bottom of 13.56, the downtrend is expected to continue for further level 13.41.

According to the chart of M15, #NTDOY formed the Inverse Head and Shoulder pattern. The Head’s top is set at 13.91 while the median line of the Neck is found at 13.44/13.77. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of #NTDOY will go towards 14.14

The Bullish pennant pattern is formed on the #NTDOY M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 16.13, a further uptrend is possible.