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

According to the chart of M5, SILVER formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 28.71 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on SILVER M5; the upper boundary is 28.99; the lower boundary is 28.95. The width of the pattern is 40 points. In case of a break of the upper boundary 28.99, 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.

According to the chart of M15, SILVER formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 29.23/29.42 and upper border is 29.60/29.42. The pattern width is measured on the chart at -366 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and SILVER breaches the lower border, the price could continue its move toward 29.40.

On the chart of the SILVER M15 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 30.43, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 60 points.

The Double Bottom pattern has been formed on SILVER M30. 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 30.32 is broken. The further movements will rely on the width of the current pattern 160 points.