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

The Triple Top pattern has formed on the chart of the #Bitcoin M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 77799.39/77907.39 with the upper limit 78173.87/78181.01; the projection of the width is 37448 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 77799.39, the price is most likely to continue the downward movement.

The Bearish Flag pattern has been formed on the chart AUDJPY M15. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 112.80, traders should enter the market.

The Bearish pennant pattern has formed on the AUDJPY M15 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 112.80 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.

The Bearish Flag pattern has been formed on EURUSD at M5. The lower boundary of the pattern is located at 1.1615/1.1621 while the upper boundary lies at 1.1619/1.1625. The projection of the flagpole is 8 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.1615 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the EURUSD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 1.1615, a trader will be able to successfully enter the sell position.

The Double Top reversal pattern has been formed on EURNZD M5. Characteristics: the upper boundary 1.9847; the lower boundary 1.9831; the width of the pattern is 18 points. Sell trades are better to be opened below the lower boundary 1.9831 with a possible movements towards the 1.9816 level.

On the chart of EURNZD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.9829; the lower boundary 1.9819; the width of the pattern 10 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.9804 level.

On the chart of GBPAUD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.8786; the lower boundary 1.8778; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.8763 level.

The Double Bottom pattern has been formed on AUDJPY M5. Characteristics: the support level 113.52; the resistance level 113.57; the width of the pattern 5 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 5 points.

The Double Bottom pattern has been formed on USDCHF 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 0.7869 is broken. The further movements will rely on the width of the current pattern 6 points.