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

The Double Bottom pattern has been formed on AUDJPY M5; the upper boundary is 99.15; the lower boundary is 98.98. The width of the pattern is 18 points. In case of a break of the upper boundary 99.15, 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 Double Bottom pattern has been formed on NZDJPY M5. Characteristics: the support level 85.85; the resistance level 86.00; the width of the pattern 15 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 15 points.

The Double Bottom pattern has been formed on #PEP H1. 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 143.19 is broken. The further movements will rely on the width of the current pattern 179 points.

The Bearish pennant pattern has formed on the #TSLA M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 423.27; the projection of the flagpole height is equal to 2380 pips. In case the price breaks out the pattern’s bottom of 423.27, the downtrend is expected to continue for further level 423.12.

The Double Bottom pattern has been formed on NZDJPY H1. 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 86.25 is broken. The further movements will rely on the width of the current pattern 34 points.