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

The Triple Bottom pattern has formed on the chart of the GOLD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 4510.43/4510.08.

The Triple Bottom pattern has formed on the chart of EURNZD D1. Features of the pattern: The lower line of the pattern has coordinates 1.9851 with the upper limit 1.9851/1.9803, the projection of the width is 355 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 1.9496, the price is most likely to continue the upward movement.

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 75367.17 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.

According to the chart of M5, GOLD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 4510.43, the lower border is 4503.84. The signal means that a short position should be opened after fixing a price below the lower border 4503.84 of the Bearish Rectangle.

The Double Bottom pattern has been formed on GOLD M5. Characteristics: the support level 4503.84; the resistance level 4510.43; the width of the pattern 659 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 606 points.