FX.co ★ Actual patterns. Technical analysis and trading recommendations
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Double Top
On the chart of #TSLA M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 423.05; the lower boundary 419.86; the width of the pattern 319 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 419.71 level.
Bullish Symmetrical Triangle
According to the chart of M5, #TSLA formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 440.25/441.62 whereas the upper border goes across 442.87/441.62. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of #TSLA will breach the upper border to head for 441.77.
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Triple Top
The Triple Top pattern has formed on the chart of the #TSLA M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 440.46/440.88 with the upper limit 442.70/442.46; the projection of the width is 224 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 440.46, the price is most likely to continue the downward movement.
Triple Top
The Triple Top pattern has formed on the chart of the #TSLA M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 440.31/440.46 with the upper limit 442.87/442.51; the projection of the width is 256 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 440.31, the price is most likely to continue the downward movement.
Bullish Rectangle
According to the chart of M5, #TSLA formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 440.31 – 440.31 and upper border 442.87 – 442.87. In case the upper border is broken, the instrument is likely to follow the upward trend.
