XAU/USD 30 MIN pairMy trading gold (XAU/USD) on the 30-minute chart with a bearish Head & Shoulders pattern and an active sell entry at 3030. Here's your setup:
Resistance: 3138
Sell Entry: 3030 (confirmed active)
Targets:
Target 1: 3080
Target 2: 3050
Observations:
1. Bearish Confirmation: A Head & Shoulders pattern suggests a downside move if the neckline is broken.
2. Stop-Loss Consideration: You might want to place a stop-loss above resistance (3138) or just above the right shoulder for risk management.
3. Risk-Reward Ratio: Ensure your risk-to-reward ratio is favorable before committing fully to the trade.
Let me know if you need further refinements or chart analysis!