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

On the chart of the AUDCAD M5 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 0.9864, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 14 points.

The Double Top pattern has been formed on AUDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9864 is broken, the downward movement will continue.

On the chart of AUDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9877; the lower boundary 0.9869; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9854 level.

According to the chart of M5, AUDCAD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.9877 and support 0.9869. In case the resistance level 0.9877 - 0.9877 is broken, the instrument is likely to follow the bullish trend.

The Double Bottom pattern has been formed on AUDCAD M5; the upper boundary is 0.9855; the lower boundary is 0.9838. The width of the pattern is 18 points. In case of a break of the upper boundary 0.9855, 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.