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

The Bearish pennant pattern has formed on the #MCD M5 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 288.31, a trader will be able to successfully enter the sell position.

According to M5, #MCD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 292.03/291.57 is broken out, the instrument is likely to move toward 291.72.

The Bearish pennant pattern has formed on the #MCD H1 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 289.12; the projection of the flagpole height is equal to 1097 pips. In case the price breaks out the pattern’s bottom of 289.12, the downtrend is expected to continue for further level 288.71.

On the chart of #MCD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 297.63; the lower boundary 295.29; the width of the pattern 234 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 295.14 level.

According to the chart of M5, #MCD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 296.07/296.84 and upper border is 297.71/296.84. The pattern width is measured on the chart at -164 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and #MCD breaches the lower border, the price could continue its move toward 296.69.