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

The Double Bottom pattern has been formed on GBPCHF M15; the upper boundary is 1.0672; the lower boundary is 1.0652. The width of the pattern is 19 points. In case of a break of the upper boundary 1.0672, 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.

According to the chart of M15, #AMZN formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 226.81, the lower border is 224.65. The signal means that a short position should be opened after fixing a price below the lower border 224.65 of the Bearish Rectangle.

According to the chart of M5, #AMZN formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 226.81, the lower border is 224.65. The signal means that a short position should be opened after fixing a price below the lower border 224.65 of the Bearish Rectangle.

The Double Bottom pattern has been formed on #NTDOY M30. Characteristics: the support level 16.71; the resistance level 17.03; the width of the pattern 32 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 31 points.

The Bearish pennant pattern has formed on the #PEP H1 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 142.27 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.