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Double Top
The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 2360.48; the lower boundary 2359.07; the width of the pattern is 128 points. Sell trades are better to be opened below the lower boundary 2359.07 with a possible movements towards the 2358.92 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. 2359.14 and 2354.17 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 497 pips. Outlook: If the upper border 2359.14 is broken, the price is likely to continue its move by 2356.94.
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Double Top
On the chart of GOLD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 2347.87; the lower boundary 2341.92; the width of the pattern 595 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 2341.77 level.
Bullish Rectangle
According to the chart of M5, GOLD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 2342.09 – 2342.09 and upper border 2344.41 – 2344.41. In case the upper border is broken, the instrument is likely to follow the upward trend.
Triple Top
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 2339.44, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 452 points.
