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

According to the chart of M5, #PEP formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 159.88, the lower border is 159.57. The signal means that a long position should be opened above the upper border 159.88 of the Bullish Rectangle.

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 159.06, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 88 points.

The Double Top reversal pattern has been formed on #PEP M5. Characteristics: the upper boundary 159.88; the lower boundary 159.57; the width of the pattern is 31 points. Sell trades are better to be opened below the lower boundary 159.57 with a possible movements towards the 159.42 level.

The Bearish pennant pattern has formed on the #PEP M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 155.85 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.

The Bearish pennant pattern has formed on the #PEP M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 155.85 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.