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

According to the chart of M5, #MSFT formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 398.75 – 398.75 and upper border 401.66 – 401.66. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M15, #MSFT formed the Head and Shoulders pattern. The Head’s top is set at 407.45 while the median line of the Neck is found at 397.94/398.75. 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 #MSFT will go towards 398.52.

The Bullish pennant signal – Trading instrument #MSFT M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 388.37, with the prospect of the next move being a projection of the flagpole height.

The Double Bottom pattern has been formed on #MSFT M5; the upper boundary is 386.93; the lower boundary is 385.21. The width of the pattern is 182 points. In case of a break of the upper boundary 386.93, 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, #MSFT formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 395.18 is likely to encourage a continuation of the downward trend.