FX.co ★ GOLD M5: Bearish Symmetrical Triangle

According to the chart of M5, GOLD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1843.52/1848.51 and upper border is 1853.97/1848.51. The pattern width is measured on the chart at -1045 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 1848.36.