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

The Bearish pennant pattern has formed on the #AMZN M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 205.34 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Triple Bottom pattern has formed on the chart of the #AMZN M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 205.08/204.42.

The Double Top reversal pattern has been formed on #AMZN M15. Characteristics: the upper boundary 211.00; the lower boundary 206.81; the width of the pattern is 429 points. Sell trades are better to be opened below the lower boundary 206.81 with a possible movements towards the 206.59 level.

On the chart of the #AMZN M5 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 205.46, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 134 points.

The Bullish pennant signal – Trading instrument #AMZN M30, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 207.29, with the prospect of the next move being a projection of the flagpole height.