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

On the chart of the EURJPY M30 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 185.90, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 30 points.

The Double Bottom pattern has been formed on AUDCAD M15; the upper boundary is 0.9773; the lower boundary is 0.9761. The width of the pattern is 11 points. In case of a break of the upper boundary 0.9773, 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 Bearish pennant pattern has formed on the #Bitcoin M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 71678.82 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 Double Bottom pattern has been formed on GBPUSD M15. 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 1.3423 is broken. The further movements will rely on the width of the current pattern 10 points.

The Double Top reversal pattern has been formed on EURGBP H1. Characteristics: the upper boundary 0.8712; the lower boundary 0.8703; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 0.8703 with a possible movements towards the 0.8663 level.