Gold (XAU/USD) Head & Shoulder Chart Pattern
**Bearish Breakdown Confirmation (📉 Downtrend Risk)**
- **Head & Shoulders Breakdown:** The price formed a **head and shoulders pattern**, signaling a potential reversal.
- **Sell Zone:** Price is trading below the **21 EMA ($3,027)** and **7 EMA ($3,028)**, confirming bearish pressure.
- **Support Test:** Price is approaching the **50 EMA ($3,000)**, which is a key level. A break below this could accelerate selling.
- **Bearish Confirmation:** If gold fails to reclaim the **$3,028-$3,030 zone**, further downside toward **$2,980-$2,960** is likely.
- **Entry Points:** A rejection from **$3,025-$3,030** is ideal for sellers, while a breakdown below **$3,000** confirms further weakness.
📌 **Conclusion:**
- **Below $3,030 = Bearish outlook toward $3,000 & $2,980**
- **Break below $3,000 = Strong downside toward $2,960**
- **Above $3,030 = Bulls regain control**
Trading Plan:
🔴 Sell near resistance ($3,025-$3,030) with a stop above $3,035.
🟢 Take profit at $3,000, then $2,980 if breakdown occurs.https://www.tradingview.com/x/RdveNV6O/
**Bearish Breakdown Confirmation (📉 Downtrend Risk)**
- **Head & Shoulders Breakdown:** The price formed a **head and shoulders pattern**, signaling a potential reversal.
- **Sell Zone:** Price is trading below the **21 EMA ($3,027)** and **7 EMA ($3,028)**, confirming bearish pressure.
- **Support Test:** Price is approaching the **50 EMA ($3,000)**, which is a key level. A break below this could accelerate selling.
- **Bearish Confirmation:** If gold fails to reclaim the **$3,028-$3,030 zone**, further downside toward **$2,980-$2,960** is likely.
- **Entry Points:** A rejection from **$3,025-$3,030** is ideal for sellers, while a breakdown below **$3,000** confirms further weakness.
📌 **Conclusion:**
- **Below $3,030 = Bearish outlook toward $3,000 & $2,980**
- **Break below $3,000 = Strong downside toward $2,960**
- **Above $3,030 = Bulls regain control**
Trading Plan:
🔴 Sell near resistance ($3,025-$3,030) with a stop above $3,035.
🟢 Take profit at $3,000, then $2,980 if breakdown occurs.https://www.tradingview.com/x/RdveNV6O/
Trade active
**Gold Trade Update:** Breakout sell entry at **3030**, hit **3005**, securing **250 pips** in profit! 🎯 Congratulations to those who followed the idea. Stay tuned for more successful setups. ✅ **Close all trades for now.**
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.