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

The Double Bottom pattern has been formed on #MCD M5. 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 279.62 is broken. The further movements will rely on the width of the current pattern 316 points.

The Double Top reversal pattern has been formed on #MCD M5. Characteristics: the upper boundary 285.27; the lower boundary 284.21; the width of the pattern is 110 points. Sell trades are better to be opened below the lower boundary 284.21 with a possible movements towards the 284.06 level.

The Bearish Flag pattern has been formed on #MCD at D1. The lower boundary of the pattern is located at 270.33/279.93 while the upper boundary lies at 273.95/283.55. The projection of the flagpole is 2513 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 270.33 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the #MCD D1 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 270.33, a trader will be able to successfully enter the sell position.

The Double Bottom pattern has been formed on #MCD H1. Characteristics: the support level 282.40; the resistance level 291.29; the width of the pattern 889 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 913 points.