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

The Double Bottom pattern has been formed on GBPUSD M5; the upper boundary is 1.3395; the lower boundary is 1.3377. The width of the pattern is 18 points. In case of a break of the upper boundary 1.3395, 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.

The Double Bottom pattern has been formed on #AMZN M5. 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 214.27 is broken. The further movements will rely on the width of the current pattern 110 points.

On the chart of the AUDUSD M5 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 0.7010, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 20 points.

On the chart of GOLD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 5174.08; the lower boundary 5125.47; the width of the pattern 4861 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 5125.25 level.

The Triple Bottom pattern has formed on the chart of #AMZN M5. Features of the pattern: The lower line of the pattern has coordinates 216.49 with the upper limit 216.49/216.41, the projection of the width is 237 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 214.12, the price is most likely to continue the upward movement.