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

The Double Bottom pattern has been formed on #KO M15; the upper boundary is 81.97; the lower boundary is 80.95. The width of the pattern is 96 points. In case of a break of the upper boundary 81.97, 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.

According to the chart of M5, #KO formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 80.02/80.64 and upper border is 81.55/80.64. The pattern width is measured on the chart at -153 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 #KO breaches the lower border, the price could continue its move toward 80.49.

The Double Top pattern has been formed on #KO M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 80.02 is broken, the downward movement will continue.

According to the chart of M15, #KO formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 83.15 – 83.15 and upper border 83.89 – 83.89. In case the upper border is broken, the instrument is likely to follow the upward trend.

On the chart of #KO M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 83.89; the lower boundary 83.23; the width of the pattern 66 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 83.00 level.