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

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 196.57/196.73 whereas the upper border goes across 196.87/196.73. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GBPJPY will breach the upper border to head for 196.88.

The Double Top reversal pattern has been formed on NZDUSD M15. Characteristics: the upper boundary 0.6119; the lower boundary 0.6110; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 0.6110 with a possible movements towards the 0.6087 level.

According to the chart of M5, #PEP formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 182.17 – 182.17 and upper border 182.56 – 182.56. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Bullish Flag pattern has been formed on the chart GBPCHF M5 which signals that the upward trend will continue. Signals: а break of the peak at 1.1470 may push the price higher, and the rise will be the projection of the pole.

The Bullish pennant graphic pattern has formed on the GBPCHF M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 1.1485.

The Bullish pennant signal – Trading instrument #GOOG H1, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 176.83, with the prospect of the next move being a projection of the flagpole height.

On the chart of the AUDCAD 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 0.9083, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 7 points.

On the chart of #MCD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 275.21; the lower boundary 274.23; the width of the pattern 98 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 274.08 level.

On the chart of #GOOG M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 176.23; the lower boundary 175.52; the width of the pattern 71 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 175.37 level.

The Double Bottom pattern has been formed on EURCAD M5; the upper boundary is 1.4808; the lower boundary is 1.4797. The width of the pattern is 11 points. In case of a break of the upper boundary 1.4808, 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.