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

According to the chart of M5, #GOOG formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 331.05 is likely to encourage a continuation of the downward trend.

On the chart of #GOOG M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 340.36; the lower boundary 339.32; the width of the pattern 104 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 339.17 level.

The Triple Top pattern has formed on the chart of the #GOOG M30. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 324.59/329.01 with the upper limit 330.40/331.08; the projection of the width is 581 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 324.59, the price is most likely to continue the downward movement.

The Bullish pennant graphic pattern has formed on the #GOOG H1 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 332.04.

On the chart of the #GOOG 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 328.98, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 210 points.