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GOLD: Short Opportunity with 1:3 Risk-Reward Ratio

Short
Gold Spot / U.S. Dollar (PEPPERSTONE:XAUUSD)  
FTA_TH  
PEPPERSTONE:XAUUSD   Gold Spot / U.S. Dollar
Technical Indicators goldidea goldtrading goldanalysis
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indicator goldidea goldtrading goldanalysis
Technical Analysis

  • Chart Pattern: Identified a potential Quasimodo (QML) pattern, suggesting a bearish reversal.
  • Indicators: Price has retraced to the Fibonacci 78.6 - 88.6 zone, a common area for trend reversals to occur. This confluence with the QML pattern strengthens the potential sell signal.
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