FX.co ★ Patterns GOLD | Gold Rate in the Forex market

The Double Bottom pattern has been formed on GOLD 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 3326.27 is broken. The further movements will rely on the width of the current pattern 584 points.

The Double Top reversal pattern has been formed on GOLD M30. Characteristics: the upper boundary 3384.23; the lower boundary 3370.26; the width of the pattern is 1346 points. Sell trades are better to be opened below the lower boundary 3370.26 with a possible movements towards the 3369.96 level.

The Double Top reversal pattern has been formed on GOLD M15. Characteristics: the upper boundary 3384.23; the lower boundary 3370.26; the width of the pattern is 1346 points. Sell trades are better to be opened below the lower boundary 3370.26 with a possible movements towards the 3370.03 level.

The Triple Top pattern has formed on the chart of the GOLD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 3369.23/3370.26 with the upper limit 3384.23/3381.25; the projection of the width is 1500 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 3369.23, the price is most likely to continue the downward movement.

On the chart of GOLD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 3364.57; the lower boundary 3351.31; the width of the pattern 1326 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 3351.16 level.

According to the chart of M15, GOLD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 3372.11 and 3342.24 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 2987 pips. Outlook: If the upper border 3372.11 is broken, the price is likely to continue its move by 3358.31.

On the chart of GOLD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 3361.19; the lower boundary 3332.65; the width of the pattern 2854 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 3332.43 level.

On the chart of the GOLD 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 3349.92, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 419 points.

According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 3362.61/3348.34 whereas the lower border goes across 3328.32/3348.34. The pattern width is measured on the chart at 3429 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 3348.34 is broken, the price could continue its move toward 3348.49.

According to the chart of M15, GOLD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 3368.80 – 3368.80 and upper border 3378.88 – 3378.88. In case the upper border is broken, the instrument is likely to follow the upward trend.