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

The Double Top reversal pattern has been formed on #MA M5. Characteristics: the upper boundary 534.32; the lower boundary 532.63; the width of the pattern is 168 points. Sell trades are better to be opened below the lower boundary 532.63 with a possible movements towards the 532.48 level.

According to the chart of M5, #MA formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 531.04 – 531.04 and upper border 533.40 – 533.40. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Bottom pattern has been formed on #MA M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 534.66 is broken. The further movements will rely on the width of the current pattern 387 points.

The Double Top pattern has been formed on #MA H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 509.54 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on #MA M5. Characteristics: the support level 509.54; the resistance level 524.12; the width of the pattern 1458 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 1493 points.