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

The Triple Bottom pattern has formed on the chart of GBPCHF M30. Features of the pattern: The lower line of the pattern has coordinates 1.0601 with the upper limit 1.0601/1.0595, the projection of the width is 13 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 1.0588, the price is most likely to continue the upward movement.

According to the chart of M15, GBPCHF formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.0588 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -8 pips.

According to the chart of M15, GBPCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.0601 - 0.0000 and support 1.0588 – 1.0588. In case the resistance level 1.0588 - 1.0588 is broken, the instrument is likely to follow the bearish trend.

The Double Top reversal pattern has been formed on GBPCHF H1. Characteristics: the upper boundary 1.0630; the lower boundary 1.0609; the width of the pattern is 20 points. Sell trades are better to be opened below the lower boundary 1.0609 with a possible movements towards the 1.0569 level.

On the chart of the GBPCHF M15 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 1.0501, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 37 points.