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

According to the chart of M5, #FB formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 600.58/602.46 and upper border is 604.63/602.46. The pattern width is measured on the chart at -405 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 #FB breaches the lower border, the price could continue its move toward 602.31.

The Double Bottom pattern has been formed on #FB M5. Characteristics: the support level 605.16; the resistance level 613.69; the width of the pattern 853 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 893 points.

The Double Top pattern has been formed on #FB H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 592.63 is broken, the downward movement will continue.

On the chart of #FB M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 616.65; the lower boundary 614.39; the width of the pattern 226 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 614.24 level.

The Double Bottom pattern has been formed on #FB M15; the upper boundary is 618.50; the lower boundary is 606.09. The width of the pattern is 1292 points. In case of a break of the upper boundary 618.50, 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.

On the chart of #FB M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 618.01; the lower boundary 614.42; the width of the pattern 359 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 614.27 level.

The Bearish pennant pattern has formed on the #FB M15 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 599.96 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.

On the chart of #FB M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 676.21; the lower boundary 672.84; the width of the pattern 337 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 672.69 level.

The Triple Bottom pattern has been formed on #FB M5. It has the following characteristics: resistance level 686.47/686.04; support level 681.90/682.04; the width is 457 points. In the event of a breakdown of the resistance level of 686.47, the price is likely to continue an upward movement at least to 682.34.

The Double Bottom pattern has been formed on #FB M5. Characteristics: the support level 682.19; the resistance level 686.04; the width of the pattern 385 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 400 points.