OANDA:XAUUSD   Gold Spot / U.S. Dollar
Note the respected 1512 level marked and how a candle pinned the level and the yellow bar I was waiting for price to reach.

1. Rejection candle
2. Second candle is an inside bar
3. Top bollinger pinned
4. Capped trend line holding

Ideally the confirmation will be a breakout from the inside bar pattern to the down side, this is where I will look to open my short position. This setup offers excellent risk to reward ratio and the target can be provisional (reversal pattern on daily time frame).



Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.

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