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

The Bullish pennant signal – Trading instrument #KO M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 71.78, with the prospect of the next move being a projection of the flagpole height.

The Double Bottom pattern has been formed on #KO M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 71.75 is broken. The further movements will rely on the width of the current pattern 31 points.

The Bullish pennant signal – Trading instrument #KO M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 72.50, with the prospect of the next move being a projection of the flagpole height.

According to the chart of H1, #KO formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 72.24 and support 70.45. In case the resistance level 72.24 - 72.24 is broken, the instrument is likely to follow the bullish trend.

On the chart of #KO M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 71.93; the lower boundary 71.79; the width of the pattern 14 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 71.64 level.

According to the chart of M5, #KO formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 71.56 – 71.56 and upper border 71.78 – 71.78. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on #KO M5. Characteristics: the support level 71.57; the resistance level 71.78; the width of the pattern 21 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 22 points.

On the chart of #KO M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 71.96; the lower boundary 71.81; the width of the pattern 15 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 71.66 level.

According to the chart of M5, #KO formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 70.98 is likely to encourage a continuation of the downward trend.

The Triple Bottom pattern has formed on the chart of #KO M5. Features of the pattern: The lower line of the pattern has coordinates 71.67 with the upper limit 71.67/71.61, the projection of the width is 12 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 71.55, the price is most likely to continue the upward movement.