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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
GBPJPY
GBPJPY M15
Double Top
On the chart of GBPJPY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 192.49; the lower boundary 192.10; the width of the pattern 39 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 191.88 level.
GBPJPY H1
Double Top
The Double Top reversal pattern has been formed on GBPJPY H1. Characteristics: the upper boundary 192.29; the lower boundary 190.84; the width of the pattern is 136 points. Sell trades are better to be opened below the lower boundary 190.84 with a possible movements towards the 190.44 level.
GBPJPY M5
Bearish Symmetrical Triangle
According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 190.87 is likely to encourage a continuation of the downward trend.
GBPJPY M15
Head and Shoulders
The technical pattern called Head and Shoulders has appeared on the chart of GBPJPY M15. There are weighty reasons to suggest that the price will surpass the Neckline 191.36/191.36 after the right shoulder has been formed. So, the trend is set to change with the price heading for 191.13.
GBPJPY M5
Bullish Symmetrical Triangle
According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 192.05 and 190.91 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 114 pips. Outlook: If the upper border 192.05 is broken, the price is likely to continue its move by 191.72.
GBPJPY M5
Head and Shoulders
The technical pattern called Head and Shoulders has appeared on the chart of GBPJPY M5. There are weighty reasons to suggest that the price will surpass the Neckline 191.44/191.36 after the right shoulder has been formed. So, the trend is set to change with the price heading for 191.21.
GBPJPY M5
Bearish pennant
The Bearish pennant pattern has formed on the GBPJPY M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 188.16 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.
GBPJPY M5
Double Bottom
The Double Bottom pattern has been formed on GBPJPY 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 189.04 is broken. The further movements will rely on the width of the current pattern 32 points.
GBPJPY M5
Double Top
On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 189.67; the lower boundary 189.49; the width of the pattern 18 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 189.34 level.
GBPJPY M5
Bearish Rectangle
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 190.52 – 190.52 and upper border 191.01 – 191.01. In case the lower border is broken, the instrument is likely to follow the downward trend.