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

The Double Bottom pattern has been formed on #NTDOY D1. Characteristics: the support level 13.02; the resistance level 16.14; the width of the pattern 312 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 328 points.

The Bullish pennant pattern is formed on the #NTDOY M30 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 13.81, a further uptrend is possible.

The Double Bottom pattern has been formed on #NTDOY D1; the upper boundary is 16.14; the lower boundary is 12.86. The width of the pattern is 312 points. In case of a break of the upper boundary 16.14, 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.

The Bearish pennant pattern has formed on the #NTDOY H1 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 13.16; the projection of the flagpole height is equal to 49 pips. In case the price breaks out the pattern’s bottom of 13.16, the downtrend is expected to continue for further level 12.76.

The Bearish pennant pattern has formed on the #NTDOY M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 13.19 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.