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

The Bullish pennant signal – Trading instrument #INTC H1, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 51.59, with the prospect of the next move being a projection of the flagpole height.

The Double Bottom pattern has been formed on GBPCHF M5. Characteristics: the support level 1.0550; the resistance level 1.0558; the width of the pattern 8 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 8 points.

The Double Top reversal pattern has been formed on #TSLA M5. Characteristics: the upper boundary 414.28; the lower boundary 410.83; the width of the pattern is 346 points. Sell trades are better to be opened below the lower boundary 410.83 with a possible movements towards the 410.68 level.

According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 4970.88/4956.02 whereas the lower border goes across 4942.87/4956.02. The pattern width is measured on the chart at 2801 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 4956.02 is broken, the price could continue its move toward 4956.17.

According to the chart of M5, GBPUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3622 and support 1.3611. In case the resistance level 1.3622 - 1.3622 is broken, the instrument is likely to follow the bullish trend.