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

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 2312.40 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -3601 pips.

According to the chart of M5, GOLD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 2320.29, the lower border is 2317.31. The signal means that a long position should be opened above the upper border 2320.29 of the Bullish Rectangle.

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 2317.35 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on GOLD M15; the upper boundary is 2318.03; the lower boundary is 2311.66. The width of the pattern is 672 points. In case of a break of the upper boundary 2318.03, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

According to the chart of M5, GOLD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 2311.31 is likely to encourage a continuation of the downward trend.