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

The Triple Bottom pattern has been formed on #GOOG M5. It has the following characteristics: resistance level 164.45/163.75;support level 163.55/163.42; the width is 90 points. In the event of a breakdown of the resistance level of 164.45, the price is likely to continue an upward movement at least to 163.53.

According to the chart of M5, #GOOG formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 164.11/163.18 whereas the lower border goes across 162.36/163.18. The pattern width is measured on the chart at 175 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 163.18 is broken, the price could continue its move toward 163.33.

The Double Bottom pattern has been formed on #GOOG M5. Characteristics: the support level 162.66;the resistance level 164.11; the width of the pattern 145 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 141 points.

According to the chart of M15, #GOOG formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 164.60 and 162.85 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 175 pips. Outlook: If the upper border 164.60 is broken, the price is likely to continue its move by 164.04.

The Triple Top pattern has formed on the chart of the #GOOG M15. Features of the pattern: borders have an ascending angle;the lower line of the pattern has the coordinates 163.02/163.07 with the upper limit 164.41/164.25; the projection of the width is 139 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 163.02, the price is most likely to continue the downward movement.