FX.co ★ Modèles réels. Analyse technique et recommandations de trading

According to the chart of M5, GOLD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 3326.63 - 0.00 and support 3315.88 – 3315.88. In case the resistance level 3315.88 - 3315.88 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M5, GOLD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 3314.14/3331.45 and upper border is 3343.45/3331.45. The pattern width is measured on the chart at -2931 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 3331.30.

The Double Bottom pattern has been formed on GOLD M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 3331.24 is broken. The further movements will rely on the width of the current pattern 1107 points.

The technical pattern called Head and Shoulders has appeared on the chart of GOLD M5. There are weighty reasons to suggest that the price will surpass the Neckline 3473.12/3476.36 after the right shoulder has been formed. So, the trend is set to change with the price heading for 3476.21.

The Double Top reversal pattern has been formed on GOLD M15. Characteristics: the upper boundary 3429.80; the lower boundary 3405.54; the width of the pattern is 2449 points. Sell trades are better to be opened below the lower boundary 3405.54 with a possible movements towards the 3405.31 level.