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

On the chart of the #PEP M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 163.36, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 93 points.

On the chart of #PEP M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 164.27; the lower boundary 163.36; the width of the pattern 91 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 163.21 level.

The Triple Bottom pattern has formed on the chart of the #PEP M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 161.78/161.37.

The Bearish Flag pattern has been formed on #PEP at M5. The lower boundary of the pattern is located at 162.85/163.51 while the upper boundary lies at 163.71/164.37. The projection of the flagpole is 218 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 162.85 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the #PEP M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 162.85, a trader will be able to successfully enter the sell position.