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

According to the chart of M5, #KO formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 78.44/78.87 whereas the upper border goes across 79.18/78.87. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of #KO will breach the upper border to head for 79.02.

The Triple Bottom pattern has formed on the chart of #KO M5. Features of the pattern: The lower line of the pattern has coordinates 78.82 with the upper limit 78.82/78.49, the projection of the width is 54 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 78.28, the price is most likely to continue the upward movement.

The Double Top reversal pattern has been formed on #KO D1. Characteristics: the upper boundary 82.66; the lower boundary 80.24; the width of the pattern is 226 points. Sell trades are better to be opened below the lower boundary 80.24 with a possible movements towards the 79.84 level.

The Bearish pennant pattern has formed on the #KO M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 81.09 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.

The Double Bottom pattern has been formed on #KO 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 80.68 is broken. The further movements will rely on the width of the current pattern 42 points.