FX.co ★ Actual patterns. Technical analysis and trading recommendations
Actual patterns
Triple Bottom
The Triple Bottom pattern has formed on the chart of #NTDOY M30. Features of the pattern: The lower line of the pattern has coordinates 13.90 with the upper limit 13.90/13.77, the projection of the width is 18 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 13.72, the price is most likely to continue the upward movement.
Double Top
The Double Top reversal pattern has been formed on #TSLA M5. Characteristics: the upper boundary 173.50; the lower boundary 172.21; the width of the pattern is 124 points. Sell trades are better to be opened below the lower boundary 172.21 with a possible movements towards the 172.06 level.
Bullish pennant
The Bullish pennant signal – Trading instrument #PEP M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 172.18, with the prospect of the next move being a projection of the flagpole height.
Bearish Rectangle
According to the chart of H1, AUDUSD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.6575, the lower border is 0.6552. The signal means that a short position should be opened after fixing a price below the lower border 0.6552 of the Bearish Rectangle.
Bullish pennant
The Bullish pennant graphic pattern has formed on the #PEP M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 171.56.