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

The Bullish pennant signal – Trading instrument #AMZN M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 190.40, with the prospect of the next move being a projection of the flagpole height.

The Double Top pattern has been formed on #AMZN M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 184.99 is broken, the downward movement will continue.

According to the chart of M5, #AMZN formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 183.31 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -158 pips.

The Triple Bottom pattern has been formed on #AMZN M5. It has the following characteristics: resistance level 185.73/184.74;support level 183.52/183.61; the width is 221 points. In the event of a breakdown of the resistance level of 185.73, the price is likely to continue an upward movement at least to 183.46.

The Triple Top pattern has formed on the chart of the #AMZN M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -24, support level -27, and pattern’s width 146. Forecast If the price breaks through the support level 185.88, it is likely to move further down to 188.21.