FX.co ★ Actual patterns. Technical analysis and trading recommendations
Actual patterns
Double Top
The Double Top pattern has been formed on NZDUSD H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5881 is broken, the downward movement will continue.
Triple Top
The Triple Top pattern has formed on the chart of the NZDCAD M30. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.8138/0.8150 with the upper limit 0.8168/0.8180; the projection of the width is 30 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 0.8138, the price is most likely to continue the downward movement.
Bearish Symmetrical Triangle
According to the chart of M30, GBPAUD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.8736 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -153 pips.
Double Bottom
The Double Bottom pattern has been formed on AUDJPY M5; the upper boundary is 113.62; the lower boundary is 113.54. The width of the pattern is 8 points. In case of a break of the upper boundary 113.62, 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.
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 74401.51 is broken. The further movements will rely on the width of the current pattern 24498 points.