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

According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 2908.98/2918.00 whereas the upper border goes across 2929.44/2918.00. 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 GOLD will breach the upper border to head for 2918.15.

On the chart of GOLD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 2922.05; the lower boundary 2912.50; the width of the pattern 955 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 2912.27 level.

The Triple Top pattern has formed on the chart of the GOLD M30. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 2877.91/2881.41 with the upper limit 2892.66/2893.90; the projection of the width is 1475 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 2877.91, the price is most likely to continue the downward movement.

The Triple Top pattern has formed on the chart of the GOLD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 67, support level -170, and pattern’s width 580. Forecast If the price breaks through the support level 2886.86, it is likely to move further down to 2892.31.

The Double Top pattern has been formed on GOLD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 2886.86 is broken, the downward movement will continue.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart GOLD M5. Forecast: if the price breaks above the pattern high at 2889.93, then traders will be able to place a long deal with the target at 2890.08.

The Bullish pennant graphic pattern has formed on the GOLD M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 2890.08.

The Double Top reversal pattern has been formed on GOLD M30. Characteristics: the upper boundary 2876.31; the lower boundary 2858.45; the width of the pattern is 1876 points. Sell trades are better to be opened below the lower boundary 2858.45 with a possible movements towards the 2858.15 level.

The Double Top reversal pattern has been formed on GOLD M15. Characteristics: the upper boundary 2876.31; the lower boundary 2858.45; the width of the pattern is 1876 points. Sell trades are better to be opened below the lower boundary 2858.45 with a possible movements towards the 2858.23 level.

According to the chart of M5, GOLD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 2832.17 is likely to encourage a continuation of the downward trend.