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

According to the chart of M5, #MCD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 268.87 – 268.87 and upper border 270.78 – 270.78. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on #MCD M15. Characteristics: the support level 268.87; the resistance level 270.78; the width of the pattern 191 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 184 points.

The Double Bottom pattern has been formed on #MCD M5; the upper boundary is 270.78; the lower boundary is 268.94. The width of the pattern is 191 points. In case of a break of the upper boundary 270.78, 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.

The Double Top reversal pattern has been formed on #MCD M15. Characteristics: the upper boundary 276.41; the lower boundary 272.64; the width of the pattern is 367 points. Sell trades are better to be opened below the lower boundary 272.64 with a possible movements towards the 272.42 level.

The Triple Top pattern has formed on the chart of the #MCD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 3, support level -41, and pattern’s width 143. Forecast If the price breaks through the support level 274.60, it is likely to move further down to 276.16.