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

According to the chart of M5, GOLD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 5166.47/5182.56 and upper border is 5204.36/5182.56. The pattern width is measured on the chart at -3789 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and GOLD breaches the lower border, the price could continue its move toward 5182.41.

According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 5163.36/5179.43 whereas the upper border goes across 5193.19/5179.43. 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 5179.58.

According to the chart of M30, GOLD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 5249.57 and 5042.12 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 20745 pips. Outlook: If the upper border 5249.57 is broken, the price is likely to continue its move by 5143.93.

The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 5203.21; the lower boundary 5186.13; the width of the pattern is 1844 points. Sell trades are better to be opened below the lower boundary 5186.13 with a possible movements towards the 5185.98 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 5129.03, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 4231 points.