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

On the chart of #FB M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 531.20; the lower boundary 527.14; the width of the pattern 406 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 526.91 level.

On the chart of the #FB 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 527.14, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 449 points.

The Double Bottom pattern has been formed on #FB 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 523.77 is broken. The further movements will rely on the width of the current pattern 721 points.

The Double Bottom pattern has been formed on #FB D1. Characteristics: the support level 482.05; the resistance level 587.72; the width of the pattern 10567 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 10777 points.

According to the chart of M15, #FB formed the Inverse Head and Shoulder pattern. The Head’s top is set at 485.03 while the median line of the Neck is found at 479.95/482.45. 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 #FB will go towards 485.26