Actual patterns
Patterns are graphical models which are formed in the chart by the price. According to one of the technical analysis postulates, history (price movement) repeats itself. It means that the price movements are often similar in the same situations which makes it possible to predict the further development of the situation with a high probability.
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Bearish Symmetrical Triangle
was formed on 26.05 at 07:35:04 (UTC+0)
signal strength 3 of 5
According to the chart of M30, GOLD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 3288.62/3347.68 and upper border is 3388.17/3347.68. The pattern width is measured on the chart at -9955 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 3347.38.
