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. 4888.06 and 4821.16 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 6690 pips. Outlook: If the upper border 4888.06 is broken, the price is likely to continue its move by 4858.86.

The Triple Top pattern has formed on the chart of the GOLD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 4816.67/4826.53 with the upper limit 4843.89/4846.51; the projection of the width is 2722 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 4816.67, the price is most likely to continue the downward movement.

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 4752.23 is broken, the downward movement will continue.

The Triple Top pattern has formed on the chart of the GOLD M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 4652.55/4659.28 with the upper limit 4690.13/4679.78; the projection of the width is 3758 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 4652.55, the price is most likely to continue the downward movement.

The Triple Top pattern has formed on the chart of the GOLD M30 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 1035, support level -673, and pattern’s width 3758. Forecast If the price breaks through the support level 4652.55, it is likely to move further down to 4678.26.

According to the chart of M15, GOLD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 4654.99/4667.42 whereas the upper border goes across 4678.56/4667.42. 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 4667.65.

The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 4673.26; the lower boundary 4667.56; the width of the pattern is 581 points. Sell trades are better to be opened below the lower boundary 4667.56 with a possible movements towards the 4667.41 level.

The Bullish pennant signal – Trading instrument GOLD M30, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 4690.13, with the prospect of the next move being a projection of the flagpole height.

The Triple Top pattern has formed on the chart of the GOLD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 324, support level -429, and pattern’s width 2234. Forecast If the price breaks through the support level 4576.20, it is likely to move further down to 4595.41.

According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 4592.14/4602.01 whereas the upper border goes across 4615.69/4602.01. 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 4602.16.