FX.co ★ Actual patterns. Technical analysis and trading recommendations
Actual patterns
Triple Bottom
The Triple Bottom pattern has been formed on GBPCHF M5. It has the following characteristics: resistance level 1.0495/1.0485; support level 1.0477/1.0478; the width is 18 points. In the event of a breakdown of the resistance level of 1.0495, the price is likely to continue an upward movement at least to 1.0492.
Triple Top
The Triple Top pattern has formed on the chart of the NZDJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 87.36/87.41 with the upper limit 87.47/87.48; the projection of the width is 11 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 87.36, the price is most likely to continue the downward movement.
Triple Bottom
The Triple Bottom pattern has been formed on GBPCHF M15. It has the following characteristics: resistance level 1.0539/1.0516; support level 1.0517/1.0509; the width is 22 points. In the event of a breakdown of the resistance level of 1.0539, the price is likely to continue an upward movement at least to 1.0533.
Double Top
The Double Top pattern has been formed on NZDJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 87.36 is broken, the downward movement will continue.
Double Bottom
The Double Bottom pattern has been formed on GBPAUD M5; the upper boundary is 2.0107; the lower boundary is 2.0094. The width of the pattern is 12 points. In case of a break of the upper boundary 2.0107, 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.