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

According to the chart of M5, #TSLA formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 407.68 – 407.68 and upper border 409.29 – 409.29. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top reversal pattern has been formed on #TSLA M5. Characteristics: the upper boundary 409.29; the lower boundary 407.68; the width of the pattern is 160 points. Sell trades are better to be opened below the lower boundary 407.68 with a possible movements towards the 407.53 level.

The Triple Bottom pattern has formed on the chart of the #TSLA M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 396.50/395.78.

The Double Bottom pattern has been formed on #TSLA M5. Characteristics: the support level 408.39; the resistance level 410.90; the width of the pattern 251 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 261 points.

According to the chart of M30, #TSLA formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 400.29 is likely to encourage a continuation of the downward trend.