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

According to the chart of M5, AUDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8901 is likely to encourage a continuation of the downward trend.

The Triple Top pattern has formed on the chart of the AUDCAD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -2, support level -7, and pattern’s width 8. Forecast If the price breaks through the support level 0.8916, it is likely to move further down to 0.8911.

The Triple Bottom pattern has been formed on AUDCAD M5. It has the following characteristics: resistance level 0.8915/0.8912; support level 0.8906/0.8905; the width is 9 points. In the event of a breakdown of the resistance level of 0.8915, the price is likely to continue an upward movement at least to 0.8920.

The Double Bottom pattern has been formed on AUDCAD M15; the upper boundary is 0.8929; the lower boundary is 0.8922. The width of the pattern is 8 points. In case of a break of the upper boundary 0.8929, 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.

According to the chart of M30, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8935/0.8942 and upper border is 0.8952/0.8942. The pattern width is measured on the chart at -17 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 AUDCAD breaches the lower border, the price could continue its move toward 0.8912.

According to the chart of M30, AUDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8915/0.8941 whereas the upper border goes across 0.8979/0.8941. 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 AUDCAD will breach the upper border to head for 0.8971.

The Double Top pattern has been formed on AUDCAD H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8958 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on AUDCAD M15. Characteristics: the upper boundary 0.8979; the lower boundary 0.8963; the width of the pattern is 15 points. Sell trades are better to be opened below the lower boundary 0.8963 with a possible movements towards the 0.8941 level.

According to the chart of M15, AUDCAD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.8965 – 0.8965 and upper border 0.8974 – 0.8974. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Bullish pennant signal – Trading instrument AUDCAD M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 0.8974, with the prospect of the next move being a projection of the flagpole height.