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

According to M15, #INTC is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 20.54/20.43 is broken out, the instrument is likely to move toward 20.66.

According to the chart of H1, #INTC formed the Inverse Head and Shoulder pattern. The Head’s top is set at 20.53 while the median line of the Neck is found at 19.31/20.05. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of #INTC will go towards 20.93

On the chart of #INTC M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 20.54; the lower boundary 20.05; the width of the pattern 49 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 19.90 level.

The Double Top pattern has been formed on #INTC M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 20.26 is broken, the downward movement will continue.

The Bearish pennant pattern has formed on the #INTC M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 19.77 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.