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

The Bearish pennant pattern has formed on the #AMZN M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 182.30; the projection of the flagpole height is equal to 511 pips. In case the price breaks out the pattern’s bottom of 182.30, the downtrend is expected to continue for further level 182.15.

According to the chart of M5, #AMZN formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 186.32 - 0.00 and support 185.30 – 185.30. In case the resistance level 185.30 - 185.30 is broken, the instrument is likely to follow the bearish trend.

The Bearish pennant pattern has formed on the #AMZN M30 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 185.37, a trader will be able to successfully enter the sell position.

The Double Top reversal pattern has been formed on #AMZN M5. Characteristics: the upper boundary 190.17; the lower boundary 187.41; the width of the pattern is 271 points. Sell trades are better to be opened below the lower boundary 187.41 with a possible movements towards the 187.26 level.

The Bullish pennant pattern is formed on the #AMZN M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 186.99, a further uptrend is possible.