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

The Double Bottom pattern has been formed on GOLD M5. Characteristics: the support level 3330.94; the resistance level 3337.55; the width of the pattern 661 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 654 points.

The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 3341.81; the lower boundary 3338.80; the width of the pattern is 293 points. Sell trades are better to be opened below the lower boundary 3338.80 with a possible movements towards the 3338.65 level.

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 3311.08 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -3093 pips.

The Triple Bottom pattern has formed on the chart of GOLD M15. Features of the pattern: The lower line of the pattern has coordinates 3343.06 with the upper limit 3343.06/3339.60, the projection of the width is 652 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 3336.54, the price is most likely to continue the upward movement.

The Triple Bottom pattern has been formed on GOLD M5. It has the following characteristics: resistance level 3340.37/3339.60; support level 3336.49/3336.31; the width is 388 points. In the event of a breakdown of the resistance level of 3340.37, the price is likely to continue an upward movement at least to 3336.52.