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flag ★ Actual patterns. Technical analysis and trading recommendations

Actual patterns

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Double Bottom
The Double Bottom pattern has been formed on #EBAY M5. Characteristics: the support level 50.10; the resistance level 50.40; the width of the pattern 30 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 30 points.
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Bearish Symmetrical Triangle
According to the chart of M5, #GOOG formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1822.84/1826.41 and upper border is 1829.66/1826.41. The pattern width is measured on the chart at -682 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and #GOOG breaches the lower border, the price could continue its move toward 1826.
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Bearish pennant
The Bearish pennant pattern has formed on the #AMZN M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 3186.41 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.
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Double Bottom
The Double Bottom pattern has been formed on #MSFT M5; the upper boundary is 214.97; the lower boundary is 213.99. The width of the pattern is 103 points. In case of a break of the upper boundary 214.97, 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.
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Triple Bottom
The Triple Bottom pattern has been formed on #GOOG M5. It has the following characteristics: resistance level 1840.17/1829.20; support level 1822.41/1824.11; the width is 1776 points. In the event of a breakdown of the resistance level of 1840.17, the price is likely to continue an upward movement at least to 1822.99.
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