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Actual patterns
Double Top
The Double Top pattern has been formed on AUDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9792 is broken, the downward movement will continue.
Double Bottom
The Double Bottom pattern has been formed on AUDCAD M5. Characteristics: the support level 0.9745; the resistance level 0.9764; the width of the pattern 19 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 20 points.
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Double Bottom
The Double Bottom pattern has been formed on AUDCAD M15; the upper boundary is 0.9862; the lower boundary is 0.9803. The width of the pattern is 61 points. In case of a break of the upper boundary 0.9862, 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.
Double Bottom
The Double Bottom pattern has been formed on AUDCAD M5. Characteristics: the support level 0.9806; the resistance level 0.9811; the width of the pattern 5 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 5 points.
Bearish Rectangle
According to the chart of M5, AUDCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.9811 – 0.9811 and upper border 0.9821 – 0.9821. In case the lower border is broken, the instrument is likely to follow the downward trend.