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

According to the chart of M5, #AMZN formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 234.99, the lower border is 232.19. The signal means that a short position should be opened after fixing a price below the lower border 232.19 of the Bearish Rectangle.

The Triple Bottom pattern has formed on the chart of #AMZN M5. Features of the pattern: The lower line of the pattern has coordinates 234.81 with the upper limit 234.81/233.65, the projection of the width is 231 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 232.50, the price is most likely to continue the upward movement.

The Double Bottom pattern has been formed on #AMZN M5. Characteristics: the support level 232.50; the resistance level 234.81; the width of the pattern 231 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 219 points.

The Bearish pennant pattern has formed on the #AMZN M30 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 232.16; the projection of the flagpole height is equal to 1351 pips. In case the price breaks out the pattern’s bottom of 232.16, the downtrend is expected to continue for further level 231.86.

The Double Bottom pattern has been formed on #AMZN M5. 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 249.43 is broken. The further movements will rely on the width of the current pattern 402 points.