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

According to the chart of M5, #GOOG formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 389.20 – 389.20 and upper border 393.25 – 393.25. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Bullish pennant signal – Trading instrument #GOOG M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 393.33, with the prospect of the next move being a projection of the flagpole height.

On the chart of the #GOOG 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 378.04, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 449 points.

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 375.18/378.04 with the upper limit 382.22/383.13; the projection of the width is 704 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 375.18, the price is most likely to continue the downward movement.

On the chart of #GOOG M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 382.53; the lower boundary 375.18; the width of the pattern 735 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 375.03 level.

The Double Top pattern has been formed on #GOOG M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 341.12 is broken, the downward movement will continue.

On the chart of #GOOG H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 340.04; the lower boundary 330.43; the width of the pattern 961 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 330.03 level.

On the chart of #GOOG M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 330.25; the lower boundary 329.34; the width of the pattern 91 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 329.19 level.

The Triple Top pattern has formed on the chart of the #GOOG M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -51, support level -46, and pattern’s width 100. Forecast If the price breaks through the support level 315.73, it is likely to move further down to 317.16.

The Double Top pattern has been formed on #GOOG M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 279.65 is broken, the downward movement will continue.