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

The Double Bottom pattern has been formed on #PEP M5; the upper boundary is 149.43; the lower boundary is 148.61. The width of the pattern is 89 points. In case of a break of the upper boundary 149.43, 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 Bullish pennant graphic pattern has formed on the #PEP M30 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 151.14.

The Bullish Flag pattern has been formed on the chart #PEP M5 which signals that the upward trend will continue. Signals: а break of the peak at 147.29 may push the price higher, and the rise will be the projection of the pole.

According to the chart of M15, #PEP formed the Head and Shoulders pattern. The Head’s top is set at 146.98 while the median line of the Neck is found at 145.59/145.49. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of #PEP will go towards 145.26.

The Double Bottom pattern has been formed on #PEP M15. Characteristics: the support level 145.44; the resistance level 146.98; the width of the pattern 154 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 149 points.