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

The Bearish pennant pattern has formed on the #FB 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 636.67, a trader will be able to successfully enter the sell position.

The Triple Top pattern has formed on the chart of the #FB M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 655.61/660.26 with the upper limit 662.64/663.44; the projection of the width is 703 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 655.61, the price is most likely to continue the downward movement.

The Double Top pattern has been formed on #FB M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 662.00 is broken, the downward movement will continue.

According to the chart of M5, #FB formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 661.37/670.53 whereas the upper border goes across 677.78/670.53. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of #FB will breach the upper border to head for 670.68.

The Bullish pennant graphic pattern has formed on the #FB M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 679.19.