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

The Bullish pennant graphic pattern has formed on the #GOOG M30 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 318.54.

The Double Bottom pattern has been formed on #GOOG M5. Characteristics: the support level 301.71; the resistance level 305.80; the width of the pattern 409 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 393 points.

The Double Top reversal pattern has been formed on #GOOG M5. Characteristics: the upper boundary 308.14; the lower boundary 307.09; the width of the pattern is 100 points. Sell trades are better to be opened below the lower boundary 307.09 with a possible movements towards the 306.94 level.

According to the chart of M5, #GOOG formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 303.83 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on #GOOG M15. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 313.65 is broken. The further movements will rely on the width of the current pattern 360 points.