Gold/USD Short Trade Targeting 1165.50
Updated
There are many reasons. Brief description is time killing. So I'm giving you the summary. Find the reasons from the chart.
1. Weekly Triangle Resistance. (Purple)
2. Weekly Stoch-RSI "Over Bought"
3. Daily Triangle Resistance. (Lime-Green)
4. Daily Stoch-RSI "Over Bought".
5. "Bearish Bat" Harmonic Pattern. (Maroon)
6. Bearish "Head & Shoulders" Pattern. (Yellow)
7. 61.8% Fibonacci Retracement completed of most recent Daily down A-B boundary at confluence of resistance.
1. Weekly Triangle Resistance. (Purple)
2. Weekly Stoch-RSI "Over Bought"
3. Daily Triangle Resistance. (Lime-Green)
4. Daily Stoch-RSI "Over Bought".
5. "Bearish Bat" Harmonic Pattern. (Maroon)
6. Bearish "Head & Shoulders" Pattern. (Yellow)
7. 61.8% Fibonacci Retracement completed of most recent Daily down A-B boundary at confluence of resistance.
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