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

The Double Bottom pattern has been formed on USDCHF M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.7869 is broken. The further movements will rely on the width of the current pattern 6 points.

On the chart of the #Bitcoin M5 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 77349.73, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 36504 points.

According to the chart of H1, NZDUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.5883 - 0.0000 and support 0.5810 – 0.5810. In case the resistance level 0.5810 - 0.5810 is broken, the instrument is likely to follow the bearish trend.

On the chart of EURCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.5993; the lower boundary 1.5987; the width of the pattern 6 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.5972 level.

The Triple Top pattern has formed on the chart of the #EBAY M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -8, support level -1, and pattern’s width 84. Forecast If the price breaks through the support level 117.96, it is likely to move further down to 118.44.