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

On the chart of #NTDOY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 16.47; the lower boundary 16.42; the width of the pattern 5 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 16.19 level.

The Bearish pennant pattern has formed on the #NTDOY M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 16.13; the projection of the flagpole height is equal to 18 pips. In case the price breaks out the pattern’s bottom of 16.13, the downtrend is expected to continue for further level 15.98.

The Double Bottom pattern has been formed on #NTDOY M30. Characteristics: the support level 16.71; the resistance level 17.03; the width of the pattern 32 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 31 points.

The Double Bottom pattern has been formed on #NTDOY M15; the upper boundary is 17.03; the lower boundary is 16.72. The width of the pattern is 32 points. In case of a break of the upper boundary 17.03, 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.

The Bearish pennant pattern has formed on the #NTDOY M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 16.72 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.