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

The Double Top reversal pattern has been formed on #AMZN M5. Characteristics: the upper boundary 213.26; the lower boundary 212.44; the width of the pattern is 82 points. Sell trades are better to be opened below the lower boundary 212.44 with a possible movements towards the 212.29 level.

According to the chart of M5, #AMZN formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 215.59, the lower border is 213.52. The signal means that a long position should be opened above the upper border 215.59 of the Bullish Rectangle.

The Double Top reversal pattern has been formed on #AMZN M15. Characteristics: the upper boundary 215.58; the lower boundary 213.77; the width of the pattern is 182 points. Sell trades are better to be opened below the lower boundary 213.77 with a possible movements towards the 213.54 level.

The Double Top pattern has been formed on #AMZN M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 213.77 is broken, the downward movement will continue.

The Bearish pennant pattern has formed on the #AMZN M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 208.32; the projection of the flagpole height is equal to 559 pips. In case the price breaks out the pattern’s bottom of 208.32, the downtrend is expected to continue for further level 208.17.

The Double Bottom pattern has been formed on #AMZN 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 214.27 is broken. The further movements will rely on the width of the current pattern 110 points.

The Triple Bottom pattern has formed on the chart of #AMZN M5. Features of the pattern: The lower line of the pattern has coordinates 216.49 with the upper limit 216.49/216.41, the projection of the width is 237 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 214.12, the price is most likely to continue the upward movement.

According to the chart of M5, #AMZN formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 215.18/217.62 whereas the upper border goes across 220.40/217.62. 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 #AMZN will breach the upper border to head for 217.77.

On the chart of the #AMZN 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 214.41, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 307 points.

The Bullish pennant signal – Trading instrument #AMZN M30, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 217.48, with the prospect of the next move being a projection of the flagpole height.