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

The Double Bottom pattern has been formed on #GOOG M5; the upper boundary is 305.95; the lower boundary is 305.04. The width of the pattern is 84 points. In case of a break of the upper boundary 305.95, 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.

According to the chart of M15, #GOOG formed the Head and Shoulders pattern. The Head’s top is set at 175.90 while the median line of the Neck is found at 173.53/173.62. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of #GOOG will go towards 173.40.

According to the chart of M15, #GOOG formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 173.25, the lower border is 170.61. The signal means that a long position should be opened above the upper border 173.25 of the Bullish Rectangle.

The Bullish pennant pattern is formed on the #GOOG M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 168.22, a further uptrend is possible.

According to the chart of M15, #GOOG formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 170.41, the lower border is 169.00. The signal means that a short position should be opened after fixing a price below the lower border 169.00 of the Bearish Rectangle.