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

The Bearish pennant pattern has formed on the #PEP M5 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 148.37, a trader will be able to successfully enter the sell position.

The Double Top pattern has been formed on #PEP M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 148.93 is broken, the downward movement will continue.

According to the chart of M5, #PEP formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 144.07/144.47 and upper border is 144.86/144.47. The pattern width is measured on the chart at -79 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 #PEP breaches the lower border, the price could continue its move toward 144.32.

The Triple Bottom pattern has formed on the chart of the #PEP M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 145.07/144.67.

The Double Bottom pattern has been formed on #PEP M15; the upper boundary is 145.69; the lower boundary is 144.51. The width of the pattern is 114 points. In case of a break of the upper boundary 145.69, 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.