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

According to the chart of M15, #GOOG formed the Head and Shoulders pattern. The Head’s top is set at 175.90 while the median line of the Neck is found at 173.53/173.62. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of #GOOG will go towards 173.40.

According to the chart of M15, #GOOG formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 173.25, the lower border is 170.61. The signal means that a long position should be opened above the upper border 173.25 of the Bullish Rectangle.

The Bullish pennant pattern is formed on the #GOOG M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 168.22, a further uptrend is possible.

According to the chart of M15, #GOOG formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 170.41, the lower border is 169.00. The signal means that a short position should be opened after fixing a price below the lower border 169.00 of the Bearish Rectangle.

The Bearish pennant pattern has formed on the #GOOG M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 168.89 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 Double Bottom pattern has been formed on #GOOG M15; the upper boundary is 170.41; the lower boundary is 169.00. The width of the pattern is 135 points. In case of a break of the upper boundary 170.41, 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 Double Bottom pattern has been formed on #GOOG 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 170.41 is broken. The further movements will rely on the width of the current pattern 135 points.

According to the chart of M5, #GOOG formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 170.41, the lower border is 169.06. The signal means that a short position should be opened after fixing a price below the lower border 169.06 of the Bearish Rectangle.

The Triple Top pattern has formed on the chart of the #GOOG M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 176.46/176.61 with the upper limit 177.37/177.38; the projection of the width is 91 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 176.46, the price is most likely to continue the downward movement.

According to the chart of M5, #GOOG formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 177.04, the lower border is 176.15. The signal means that a short position should be opened after fixing a price below the lower border 176.15 of the Bearish Rectangle.