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

According to the chart of M5, #GOOG formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 347.16 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on #GOOG M5; the upper boundary is 349.47; the lower boundary is 347.16. The width of the pattern is 227 points. In case of a break of the upper boundary 349.47, 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 Bearish pennant pattern has formed on the #GOOG M30 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 341.09, a trader will be able to successfully enter the sell position.

According to the chart of M5, #GOOG formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 344.41 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -356 pips.

The Bearish pennant pattern has formed on the #GOOG M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 341.09 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.