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

The Bearish pennant pattern has formed on the GBPJPY 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 210.69, a trader will be able to successfully enter the sell position.

The Bullish Flag pattern has been formed on GBPJPY at M5. The lower boundary of the pattern is located at 211.37/211.37, while the higher boundary lies at 211.47/211.47. The projection of the flagpole is 31 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 211.47 is broken, the price will move further upwards.

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 211.45 is broken. The further movements will rely on the width of the current pattern 15 points.

The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 211.51; the resistance level 211.60; the width of the pattern 9 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 10 points.

The Double Top pattern has been formed on GBPJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 211.44 is broken, the downward movement will continue.