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

The Double Bottom pattern has been formed on #GOOG M5; the upper boundary is 172.57; the lower boundary is 172.07. The width of the pattern is 47 points. In case of a break of the upper boundary 172.57, 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.

On the chart of #GOOG M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 172.67; the lower boundary 171.43; the width of the pattern 124 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 171.28 level.

The Double Bottom pattern has been formed on #GOOG M5. Characteristics: the support level 167.79; the resistance level 168.95; the width of the pattern 116 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 110 points.

According to the chart of M5, #GOOG formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 165.56 is likely to encourage a continuation of the downward trend.

The Triple Top pattern has formed on the chart of the #GOOG M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -2, support level -20, and pattern’s width 96. Forecast If the price breaks through the support level 173.04, it is likely to move further down to 173.95.