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

The Double Bottom pattern has been formed on GBPAUD M15; the upper boundary is 2.0454; the lower boundary is 2.0424. The width of the pattern is 28 points. In case of a break of the upper boundary 2.0454, 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 Bearish pennant pattern has formed on the GBPAUD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 2.0468; the projection of the flagpole height is equal to 20 pips. In case the price breaks out the pattern’s bottom of 2.0468, the downtrend is expected to continue for further level 2.0453.

According to the chart of M5, GBPAUD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 2.0545/2.0529 whereas the lower border goes across 2.0512/2.0529. The pattern width is measured on the chart at 33 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 2.0529 is broken, the price could continue its move toward 2.0544.

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 2.0501 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -51 pips.

The Double Bottom pattern has been formed on GBPAUD M15. Characteristics: the support level 2.0515; the resistance level 2.0532; the width of the pattern 17 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 17 points.