FX.co ★ Actual patterns. Technical analysis and trading recommendations
Actual patterns
Double Top
The Double Top pattern has been formed on #Bitcoin M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 85200.45 is broken, the downward movement will continue.
Bullish Rectangle
According to the chart of M5, #Bitcoin formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 85457.12 and support 85308.07. In case the resistance level 85457.12 - 85457.12 is broken, the instrument is likely to follow the bullish trend.
Double Top
The Double Top reversal pattern has been formed on #Bitcoin M5. Characteristics: the upper boundary 85455.73; the lower boundary 85324.27; the width of the pattern is 13285 points. Sell trades are better to be opened below the lower boundary 85324.27 with a possible movements towards the 85324.12 level.
Triple Top
The Triple Top pattern has formed on the chart of the EURUSD M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.1387/1.1391 with the upper limit 1.1397/1.1397; the projection of the width is 10 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.1387, the price is most likely to continue the downward movement.
Bearish Rectangle
According to the chart of M15, NZDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8222 - 0.0000 and support 0.8206 – 0.8206. In case the resistance level 0.8206 - 0.8206 is broken, the instrument is likely to follow the bearish trend.