FX.co ★ Actual patterns. Technical analysis and trading recommendations
Actual patterns
Double Top
The Double Top pattern has been formed on EURCHF M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9226 is broken, the downward movement will continue.
Inverse Head and Shoulder
According to the chart of M5, GBPAUD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 1.9190 while the median line of the Neck is found at 1.9147/1.9177. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of GBPAUD will go towards 1.9205
Double Top
The Double Top pattern has been formed on GBPAUD D1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.9155 is broken, the downward movement will continue.
Double Bottom
The Double Bottom pattern has been formed on #Bitcoin M5. 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 65184.21 is broken. The further movements will rely on the width of the current pattern 14321 points.
Inverse Head and Shoulder
According to the chart of M5, #PEP produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 133.94 while the median line of the Neck is set at 134.99/134.95. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of #PEP will go towards 135.10.