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

The Triple Top pattern has formed on the chart of the #Bitcoin M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -200, support level -5300, and pattern’s width 23300. Forecast If the price breaks through the support level 78054.68, it is likely to move further down to 78328.53.

The Bearish pennant pattern has formed on the #Bitcoin H1 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 77614.68 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.

The Bearish pennant pattern has formed on the #Bitcoin M30 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 77614.68, a trader will be able to successfully enter the sell position.

The Double Bottom pattern has been formed on EURGBP D1. 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 0.8788 is broken. The further movements will rely on the width of the current pattern 177 points.

The Double Bottom pattern has been formed on EURUSD M15; the upper boundary is 1.1623; the lower boundary is 1.1617. The width of the pattern is 6 points. In case of a break of the upper boundary 1.1623, 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.