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

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 213.25/213.54 and upper border is 213.96/213.54. The pattern width is measured on the chart at -71 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 GBPJPY breaches the lower border, the price could continue its move toward 213.39.

The Triple Bottom pattern has formed on the chart of the GBPJPY M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 213.47/213.45.

On the chart of the GBPJPY 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 213.41, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 14 points.

The Double Top pattern has been formed on GBPJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 213.41 is broken, the downward movement will continue.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 213.14; the lower boundary 212.99; the width of the pattern 15 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 212.84 level.

According to the chart of M5, GBPJPY formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 212.73 – 212.73 and upper border 212.91 – 212.91. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 213.19/213.08 whereas the lower border goes across 212.99/213.08. The pattern width is measured on the chart at 20 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 213.08 is broken, the price could continue its move toward 213.23.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 213.18; the lower boundary is 212.88. The width of the pattern is 32 points. In case of a break of the upper boundary 213.18, 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.

The Bullish pennant pattern is formed on the GBPJPY M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 211.58, a further uptrend is possible.

The Double Bottom pattern has been formed on GBPJPY H1. 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 212.03 is broken. The further movements will rely on the width of the current pattern 77 points.