pipsntrips

pipsntrips Updated 

Keeping things simple as possible I'm looking at potential buys for gold TP/QP 1850 We have a possible double top forming on H4. My plan is to see what's going to happen as far as how far the market will retrace to the downside I'm keeping a close eye out on the dollar index during this time because usually when the dollar goes down prices of gold goes up...

pipsntrips

Right now I'm looking for a sign of bearish pressure to end & the bulls taking over. The reason for that is the break of previous (which I would consider being a HH since its higher than the previous highs, and the low which wasn't a LL point, but kinds look-alike HL point) if correct I'm projecting my TP around 43,000's

pipsntrips

Price is chilling an HL point on H4 and respecting an HL area on the daily. could this need a strong bullish in the works? possible, but keep in mind the LH areas on the daily weren't broken. For the uptrend to be valid price has to break a previous high. There is also some confluence around 1893 (61.8% Fibonacci) wicks to the upsides which could be some...

pipsntrips

On H4 we can see how price reacted to the resistance. it formed a double top pattern for a nice sell opportunity. I notice gold like to formed double tops all the time. Some are long term, some are short terms. Can the market continue to drop? of course, it can. Can the market retrace to the upside? of course, it can. Our goal is to be patient enough to take...

pipsntrips Updated 

Looks like a possible bullish falling wedge. If price breaks through my minor resistance my projection for the move is QP 1750 Let's see what happens within the week. Things should be interesting

pipsntrips

Right now the market is in a downtrend. Daily support is broken, LHs, LL was formed. Looking to end the trading day in some sort of consolidation. Looking forward to next week :) (sorry for the lack of details. I'm still learning how to put everything together via text. )

pipsntrips

H1: Entering a downtrend the market found resistance @ 1307.866 which is the 100% retracement level. As the market dropped it broken thru my major retracement levels, consolidating at 38.% than continued to drop until it found support at 0% retracement 1261.658 my minor fibs I placed showed at 88.6 & 78.6 consolidating before dropping. the yellow circles...

pipsntrips

With the market being overbought.. this can a good opportunity to look for sell entries. I considered some minor and major false moves starting at market open. My set up is based on the daily chart and my possible entry and exit on the 4hr. What do you think?

pipsntrips

I followed the trend by using the yellow arrows to help me see the moves. I marked the blue trend lines as major support and resistance and the smaller lines I'm using as minor support and resistance. Based on what I see the market it looks like a bullish continuation. Price (Red Circles) bounced back and forth. Price broke out of the trend at 1.08691 creating...