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

The #PEP M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 160.12, the Neckline and the upward angle are at 154.96/155.78. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of #PEP will go towards 155.63.

The technical pattern called Head and Shoulders has appeared on the chart of #PEP M5. There are weighty reasons to suggest that the price will surpass the Neckline 154.96/155.78 after the right shoulder has been formed. So, the trend is set to change with the price heading for 155.63.

The Double Top reversal pattern has been formed on USDCAD M5. Characteristics: the upper boundary 1.4541; the lower boundary 1.4518; the width of the pattern is 22 points. Sell trades are better to be opened below the lower boundary 1.4518 with a possible movements towards the 1.4503 level.

On the chart of the GBPAUD 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 2.0477, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 22 points.

The Bearish pennant pattern has formed on the #FB M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 620.92 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.

According to the chart of M15, EURCHF formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.9377 while the median line of the Neck is found at 0.9345/0.9367. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of EURCHF will go towards 0.9399

According to the chart of M5, #MA formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 556.37/557.65 and upper border is 558.91/557.65. The pattern width is measured on the chart at -254 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and #MA breaches the lower border, the price could continue its move toward 557.50.

On the chart of the GBPAUD 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 2.0469, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 25 points.

According to M5, EURCHF is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.9381/0.9377 is broken out, the instrument is likely to move toward 0.9392.

The Triple Bottom pattern has been formed on #MA M5. It has the following characteristics: resistance level 561.20/558.80; support level 556.94/556.70; the width is 426 points. In the event of a breakdown of the resistance level of 561.20, the price is likely to continue an upward movement at least to 556.52.