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

The Double Bottom pattern has been formed on #NTDOY M15. Characteristics: the support level 20.86; the resistance level 20.97; the width of the pattern 11 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 12 points.

The Bearish pennant pattern has formed on the #NTDOY M30 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 20.80, a trader will be able to successfully enter the sell position.

The Bearish pennant pattern has formed on the #NTDOY M15 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 20.85 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The technical pattern called Head and Shoulders has appeared on the chart of #NTDOY M30. There are weighty reasons to suggest that the price will surpass the Neckline 21.23/21.26 after the right shoulder has been formed. So, the trend is set to change with the price heading for 20.96.

The Triple Top pattern has formed on the chart of the #NTDOY M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -4, support level -7, and pattern’s width 7. Forecast If the price breaks through the support level 21.62, it is likely to move further down to 21.59.