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

On the chart of #KO M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 70.74; the lower boundary 70.56; the width of the pattern 18 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 70.41 level.

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 70.03 is broken, the downward movement will continue.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart #KO M5. Forecast: if the price breaks above the pattern high at 71.34, then traders will be able to place a long deal with the target at 71.49.

The Double Bottom pattern has been formed on #KO M15. Characteristics: the support level 70.73; the resistance level 71.05; the width of the pattern 32 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 31 points.

According to the chart of M5, #KO formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 70.73/70.93 and upper border is 71.22/70.93. The pattern width is measured on the chart at -49 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 70.78.