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FX.co ★ Actual patterns. Technical analysis and trading recommendations
Technical Analysis Patterns
There is nothing more precious to a trader than an ability to predict a further price movement. Technical analysis is a key to your successful transaction. At the same time, you can rely on common and recurring situations that arise in the same circumstances. Our Technical Analysis Patterns section features all trading recommendations based on the technical analysis patterns that help traders make projections and turn a profit.
Instrument:
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Figure:
All
Triangle
Rectangle
Pennant
Flag
Head and Shoulders
Double Top
Triple top
Timeframe:
All
M5
M15
M30
H1
D1
Signal strength:
All
High
Medium
Low
Signal direction:
All
Buy
Sell
AUDJPY
AUDJPY M5
Double Bottom
The Double Bottom pattern has been formed on AUDJPY M5; the upper boundary is 90.87; the lower boundary is 90.68. The width of the pattern is 21 points. In case of a break of the upper boundary 90.87, 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.
AUDJPY M5
Bullish Symmetrical Triangle
According to the chart of M5, AUDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 90.64/90.78 whereas the upper border goes across 90.96/90.78. 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 AUDJPY will breach the upper border to head for 90.93.
AUDJPY M5
Bearish Symmetrical Triangle
According to the chart of M5, AUDJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 90.60 is likely to encourage a continuation of the downward trend.
AUDJPY M5
Triple Top
On the chart of the AUDJPY 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 90.75, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 20 points.
AUDJPY M5
Double Top
On the chart of AUDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 90.93; the lower boundary 90.75; the width of the pattern 18 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 90.60 level.
AUDJPY M5
Bearish Rectangle
According to the chart of M5, AUDJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 90.17 - 0.00 and support 90.06 – 90.06. In case the resistance level 90.06 - 90.06 is broken, the instrument is likely to follow the bearish trend.
AUDJPY M5
Double Bottom
The Double Bottom pattern has been formed on AUDJPY 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 90.17 is broken. The further movements will rely on the width of the current pattern 11 points.
AUDJPY M15
Bearish Flag
The Bearish Flag pattern has been formed on the chart AUDJPY M15 which signals that the downward trend will continue. If the price breaks below the low at 90.01, then it is most likely to move further downwards. The price will likely move by the number of points which equals the length of the flag pole (15 points).
AUDJPY M15
Bearish pennant
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 90.01 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.
AUDJPY M15
Bullish pennant
The Bullish pennant pattern is formed on the AUDJPY M15 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 91.06, a further uptrend is possible.