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