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

The Double Bottom pattern has been formed on GOLD M5. Characteristics: the support level 3330.94; the resistance level 3337.55; the width of the pattern 661 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 654 points.

The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 3341.81; the lower boundary 3338.80; the width of the pattern is 293 points. Sell trades are better to be opened below the lower boundary 3338.80 with a possible movements towards the 3338.65 level.

According to the chart of M5, GOLD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 3311.08 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -3093 pips.

The Triple Bottom pattern has formed on the chart of GOLD M15. Features of the pattern: The lower line of the pattern has coordinates 3343.06 with the upper limit 3343.06/3339.60, the projection of the width is 652 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 3336.54, the price is most likely to continue the upward movement.

The Triple Bottom pattern has been formed on GOLD M5. It has the following characteristics: resistance level 3340.37/3339.60; support level 3336.49/3336.31; the width is 388 points. In the event of a breakdown of the resistance level of 3340.37, the price is likely to continue an upward movement at least to 3336.52.

The Double Bottom pattern has been formed on GOLD M5. Characteristics: the support level 3336.54; the resistance level 3343.06; the width of the pattern 652 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 657 points.

The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 3347.61; the lower boundary 3343.97; the width of the pattern is 421 points. Sell trades are better to be opened below the lower boundary 3343.97 with a possible movements towards the 3343.82 level.

On the chart of GOLD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 3341.98; the lower boundary 3336.35; the width of the pattern 563 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 3336.20 level.

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 -115, support level -123, and pattern’s width 1100. Forecast If the price breaks through the support level 3277.53, it is likely to move further down to 3288.12.

On the chart of GOLD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 3296.07; the lower boundary 3290.26; the width of the pattern 581 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 3290.11 level.