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

On the chart of the #MA 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 502.59, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 614 points.

The Bearish pennant pattern has formed on the #MA M30 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 504.06; the projection of the flagpole height is equal to 2337 pips. In case the price breaks out the pattern’s bottom of 504.06, the downtrend is expected to continue for further level 503.76.

The Bearish pennant pattern has formed on the #MA M15 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 505.48; the projection of the flagpole height is equal to 2195 pips. In case the price breaks out the pattern’s bottom of 505.48, the downtrend is expected to continue for further level 505.26.

The Triple Bottom pattern has been formed on #MA M15. It has the following characteristics: resistance level 520.07/517.77; support level 516.07/516.20; the width is 400 points. In the event of a breakdown of the resistance level of 520.07, the price is likely to continue an upward movement at least to 516.39.

The Double Bottom pattern has been formed on #MA M15; the upper boundary is 520.07; the lower boundary is 516.16. The width of the pattern is 400 points. In case of a break of the upper boundary 520.07, 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.