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

The Bullish pennant pattern is formed on the #TSLA M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 496.47, a further uptrend is possible.

The Bullish pennant signal – Trading instrument #TSLA M30, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 490.58, with the prospect of the next move being a projection of the flagpole height.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart #TSLA M30. Forecast: if the price breaks above the pattern high at 490.58, then traders will be able to place a long deal with the target at 490.88.

According to the chart of M15, #TSLA formed the Head and Shoulders pattern. The Head’s top is set at 494.99 while the median line of the Neck is found at 475.36/473.99. 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 #TSLA will go towards 473.77.

The Triple Top pattern has formed on the chart of the #TSLA M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -66, support level -29, and pattern’s width 169. Forecast If the price breaks through the support level 445.42, it is likely to move further down to 447.29.