FX.co ★ Modèles réels. Analyse technique et recommandations de trading

The Double Bottom pattern has been formed on GBPJPY M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 217.60 is broken. The further movements will rely on the width of the current pattern 18 points.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 217.61/217.78 whereas the upper border goes across 217.92/217.78. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GBPJPY will breach the upper border to head for 217.93.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 217.77; the lower boundary is 217.68. The width of the pattern is 10 points. In case of a break of the upper boundary 217.77, 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.

The Triple Top pattern has formed on the chart of the GBPJPY M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -2, support level -27, and pattern’s width 38. Forecast If the price breaks through the support level 218.07, it is likely to move further down to 218.26.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 218.47; the lower boundary 218.34; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 218.19 level.