Recent Posts

Shorting Gold: Bearish H&S

This mornings trade idea on USDCAD is so far working out well. The support level is holding well and at the time of writing I am up a little over 80 pips!

Thats my first trade this year and it better get the year going with the "right foot'!!

So, I just entered a second trade today. I am shorting Gold. The details of the trade are in the below screen shot.

Let me explain my "painting".

The white lines show you the sideways head and shoulders.

The yellow line shows you the current support level. If this level is broken (its the neckline) it will confirm my sell idea on Gold.

Which brings us to the green zone, which is the take profit zone. Again, since I am a little rusty in the markets, I will be taking the closest profit area, which still gives me a 3:1 reward/risk and that makes me very happy!

Now I know that the US stock market is taking a hit at the moment and people might think that Gold should head higher, I recon that the US stock market will not (at least yet) have an effect on Gold, so I believe this trade idea has a good chance of working out, just as long the yellow support level gets broken.

I will make a re-cap video of both trades once they are closed!

Peace out and have a good week!

Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square

Stay Connected

  • Black Facebook Icon
  • Black Twitter Icon
  • Black Instagram Icon
  • Black YouTube Icon

Member of Double D Ventures


Disclaimer: Any Advice or information on this website is general advice only. It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided by PipsMatter, or anyone associated with PipsMatter.


High-Risk Warning: Online trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of trading in forex, futures, commodities, cryptocurrencies, shares, and options and be willing to accept them in order to trade in these markets.


Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade or invest with borrowed money or money you cannot afford to lose.


Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.


Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.

© 2016-2019

© PipsMatter Copyright