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

The Bearish pennant pattern has formed on the #MA M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 491.12; the projection of the flagpole height is equal to 1222 pips. In case the price breaks out the pattern’s bottom of 491.12, the downtrend is expected to continue for further level 490.97.

The Double Bottom pattern has been formed on #MA H1; the upper boundary is 527.40; the lower boundary is 496.09. The width of the pattern is 3221 points. In case of a break of the upper boundary 527.40, 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 Bottom pattern has been formed on #MA H1. Characteristics: the support level 495.19; the resistance level 527.40; the width of the pattern 3221 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 3131 points.

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 512.82 is broken. The further movements will rely on the width of the current pattern 161 points.

The Triple Top pattern has formed on the chart of the #MA M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 517.08/519.18 with the upper limit 521.98/521.60; the projection of the width is 490 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 517.08, the price is most likely to continue the downward movement.