FX.co ★ Actual patterns. Technical analysis and trading recommendations
实际图案
Triple Bottom
The Triple Bottom pattern has formed on the chart of GOLD M5. Features of the pattern: The lower line of the pattern has coordinates 4642.41 with the upper limit 4642.41/4634.17, the projection of the width is 1898 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 4623.43, the price is most likely to continue the upward movement.
Bearish Symmetrical Triangle
According to the chart of H1, GOLD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 4657.33 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -9058 pips.
Bearish pennant
The Bearish pennant pattern has formed on the GOLD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 4679.64, a trader will be able to successfully enter the sell position.
Double Top
The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 4696.97; the lower boundary 4684.59; the width of the pattern is 1163 points. Sell trades are better to be opened below the lower boundary 4684.59 with a possible movements towards the 4684.44 level.
Bullish Symmetrical Triangle
According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 4710.64 and 4644.89 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 6575 pips. Outlook: If the upper border 4710.64 is broken, the price is likely to continue its move by 4673.98.
