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

According to the chart of M5, #PEP produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 143.96 while the median line of the Neck is set at 144.53/144.50. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of #PEP will go towards 144.65.

The Triple Top pattern has formed on the chart of the #PEP H1. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 140.45/145.07 with the upper limit 145.93/146.45; the projection of the width is 548 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 140.45, the price is most likely to continue the downward movement.

On the chart of the #PEP H1 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 140.45, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 548 points.

The Double Bottom pattern has been formed on #PEP M5; the upper boundary is 146.45; the lower boundary is 145.09. The width of the pattern is 138 points. In case of a break of the upper boundary 146.45, 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 Double Bottom pattern has been formed on #PEP M5; the upper boundary is 146.45; the lower boundary is 145.09. The width of the pattern is 138 points. In case of a break of the upper boundary 146.45, 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.