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

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 61967.56; the lower boundary 61213.02; the width of the pattern 75454 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 61212.87 level.

On the chart of the USDCHF M15 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 0.7951, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 9 points.

The Bearish Flag pattern has been formed on SILVER at M5. The lower boundary of the pattern is located at 67.52/67.79 while the upper boundary lies at 67.79/68.06. The projection of the flagpole is 655 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 67.52 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the SILVER M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 67.52; the projection of the flagpole height is equal to 655 pips. In case the price breaks out the pattern’s bottom of 67.52, the downtrend is expected to continue for further level 67.50.

The Double Bottom pattern has been formed on AUDJPY M5; the upper boundary is 112.82; the lower boundary is 112.69. The width of the pattern is 13 points. In case of a break of the upper boundary 112.82, 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.