FX.co ★ Actual patterns. Technical analysis and trading recommendations
Actual patterns
Double Bottom
The Double Bottom pattern has been formed on EURGBP D1; the upper boundary is 0.8788; the lower boundary is 0.8616. The width of the pattern is 177 points. In case of a break of the upper boundary 0.8788, 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.
Bearish Rectangle
According to the chart of H1, GBPAUD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.9166 - 0.0000 and support 1.9124 – 1.9124. In case the resistance level 1.9124 - 1.9124 is broken, the instrument is likely to follow the bearish trend.
Bearish Rectangle
According to the chart of M30, GBPAUD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.9166 - 0.0000 and support 1.9125 – 1.9125. In case the resistance level 1.9125 - 1.9125 is broken, the instrument is likely to follow the bearish trend.
Bullish Symmetrical Triangle
According to the chart of M5, USDCAD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 1.3948/1.3944 whereas the lower border goes across 1.3938/1.3944. The pattern width is measured on the chart at 10 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 1.3944 is broken, the price could continue its move toward 1.3959.
Bullish Symmetrical Triangle
According to the chart of M5, EURGBP formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.8731/0.8728 whereas the lower border goes across 0.8725/0.8728. The pattern width is measured on the chart at 6 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.8728 is broken, the price could continue its move toward 0.8743.
