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

The Double Bottom pattern has been formed on #FB H1; the upper boundary is 559.81; the lower boundary is 550.75. The width of the pattern is 972 points. In case of a break of the upper boundary 559.81, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The Double Top reversal pattern has been formed on #FB D1. Characteristics: the upper boundary 600.45; the lower boundary 555.23; the width of the pattern is 4427 points. Sell trades are better to be opened below the lower boundary 555.23 with a possible movements towards the 554.83 level.

According to the chart of M5, #FB formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 550.09/554.86 and upper border is 561.51/554.86. The pattern width is measured on the chart at -1142 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and #FB breaches the lower border, the price could continue its move toward 554.71.

On the chart of #FB D1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 599.50; the lower boundary 555.23; the width of the pattern 4427 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 554.83 level.

The Double Bottom pattern has been formed on #FB M5; the upper boundary is 557.20; the lower boundary is 552.03. The width of the pattern is 517 points. In case of a break of the upper boundary 557.20, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.