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

The Triple Top pattern has formed on the chart of the NZDJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 87.36/87.41 with the upper limit 87.47/87.48; the projection of the width is 11 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 87.36, the price is most likely to continue the downward movement.

The Double Top pattern has been formed on NZDJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 87.36 is broken, the downward movement will continue.

According to the chart of M30, NZDJPY formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 87.25/87.08 whereas the lower border goes across 86.97/87.08. The pattern width is measured on the chart at 28 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 87.08 is broken, the price could continue its move toward 87.38.

The Bullish pennant pattern is formed on the NZDJPY M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 87.22, a further uptrend is possible.

On the chart of the NZDJPY H1 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 86.62, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 46 points.