FX.co ★ Patterns GOLD | Gold Rate in the Forex market

According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 4116.07 and 4036.43 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 7964 pips. Outlook: If the upper border 4116.07 is broken, the price is likely to continue its move by 4078.85.

According to the chart of M30, GOLD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 3995.50 is likely to encourage a continuation of the downward trend.

According to the chart of M15, GOLD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 3995.50 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on GOLD H1. Characteristics: the support level 4011.04; the resistance level 4046.58; the width of the pattern 3554 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 3669 points.

The Double Bottom pattern has been formed on GOLD M30. 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 4046.58 is broken. The further movements will rely on the width of the current pattern 3554 points.

The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 4051.91; the lower boundary 4047.04; the width of the pattern is 483 points. Sell trades are better to be opened below the lower boundary 4047.04 with a possible movements towards the 4046.89 level.

According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 4069.39/4081.01 whereas the upper border goes across 4093.46/4081.01. 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 4081.16.

According to the chart of M15, GOLD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 4115.68/4094.76 whereas the lower border goes across 4077.20/4094.76. The pattern width is measured on the chart at 3848 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 4094.76 is broken, the price could continue its move toward 4094.99.

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 4056.64 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on GOLD D1. Characteristics: the support level 3943.10; the resistance level 4202.52; the width of the pattern 25942 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 24333 points.