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

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 4078.86, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 793 points.

The Double Bottom pattern has been formed on GOLD D1. 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 4202.52 is broken. The further movements will rely on the width of the current pattern 25942 points.

The Bearish pennant pattern has formed on the GOLD M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 3994.49 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Double Bottom pattern has been formed on GOLD M5. Characteristics: the support level 4006.11; the resistance level 4015.20; the width of the pattern 909 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 865 points.

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 4030.98 is broken. The further movements will rely on the width of the current pattern 848 points.