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

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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.