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

On the chart of GOLD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 4336.79; the lower boundary 4327.48; the width of the pattern 931 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 4327.33 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 63126.18 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 Triple Bottom pattern has formed on the chart of EURNZD M5. Features of the pattern: The lower line of the pattern has coordinates 1.9668 with the upper limit 1.9668/1.9667, the projection of the width is 10 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 1.9658, the price is most likely to continue the upward movement.

The Bullish Flag pattern has been formed on SILVER at M5. The lower boundary of the pattern is located at 64.10/63.91, while the higher boundary lies at 64.32/64.13. The projection of the flagpole is 850 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 64.32 is broken, the price will move further upwards.

The Bullish pennant pattern is formed on the SILVER M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 64.32, a further uptrend is possible.