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

On the chart of the #AMZN 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 271.37, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 194 points.

According to the chart of M5, #AMZN formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 270.73/269.23 whereas the lower border goes across 267.32/269.23. The pattern width is measured on the chart at 341 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 269.23 is broken, the price could continue its move toward 269.38.

According to the chart of M5, #AMZN formed the Inverse Head and Shoulder pattern. The Head’s top is set at 259.86 while the median line of the Neck is found at 256.13/257.80. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of #AMZN will go towards 260.01

The Double Bottom pattern has been formed on #AMZN M5; the upper boundary is 262.52; the lower boundary is 257.46. The width of the pattern is 508 points. In case of a break of the upper boundary 262.52, 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 Bullish pennant graphic pattern has formed on the #AMZN M15 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 261.77.