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

The Double Top reversal pattern has been formed on #TSLA M5. Characteristics: the upper boundary 175.34; the lower boundary 171.26; the width of the pattern is 426 points. Sell trades are better to be opened below the lower boundary 171.26 with a possible movements towards the 171.11 level.

The Bullish pennant graphic pattern has formed on the #TSLA 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 179.74.

The Bullish pennant signal – Trading instrument #TSLA M30, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 179.44, with the prospect of the next move being a projection of the flagpole height.

According to the chart of M5, #TSLA formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 167.52 – 167.52 and upper border 169.01 – 169.01. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on #TSLA M5. Characteristics: the support level 167.63; the resistance level 169.01; the width of the pattern 138 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.