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

The Double Bottom pattern has been formed on #KO H1. 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 75.83 is broken. The further movements will rely on the width of the current pattern 111 points.

On the chart of #KO M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 76.60; the lower boundary 76.39; the width of the pattern 21 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 76.24 level.

According to the chart of M5, #KO formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 75.95 - 0.00 and support 75.50 – 75.50. In case the resistance level 75.50 - 75.50 is broken, the instrument is likely to follow the bearish trend.

The Double Top reversal pattern has been formed on #KO M15. Characteristics: the upper boundary 78.43; the lower boundary 76.36; the width of the pattern is 204 points. Sell trades are better to be opened below the lower boundary 76.36 with a possible movements towards the 76.14 level.

The Double Top reversal pattern has been formed on #KO M30. Characteristics: the upper boundary 78.43; the lower boundary 76.36; the width of the pattern is 204 points. Sell trades are better to be opened below the lower boundary 76.36 with a possible movements towards the 76.06 level.