Best Price-Action Strategy to trade XAUUSD and XAGUSD

Quoted - nsg_usd

XAGUSD- Price invalidates the bullish channel, forming new bearish channel inline with the hourly channel.

Price invalidated that move already and even invalidated my box for now what should be considered is only buy setups until the last higher low is being taken before we can consider selling silver

Quoted - nsg_usd

I'm not doubting that. Creation of a LTF bearish channel in line with the 4hr trendline is a good confluence price is driving down.

Price was only rebalancing back to a lower time free mother block because we all failed to see the external liquidity sweep that took place before the bullish movement started

Quoted - asuquokelvin

Price was only rebalancing back to a lower time free mother block because we all failed to see the external liquidity sweep that took place before the bullish movement started

Price was only rebalancing back to a lower time free mother block because we all failed to see the external liquidity sweep that took place before the bullish movement started

Quoted - nsg_usd

XAGUSD-Finally the breakout I have been anticipating is here.
The LTF was deceptive. That's why I don't like paying attention to it. Glad I wasn't looking to trade any sells but just following price activities. Now I can comfortably lookout for buys.

You know silver and gold actually move in the same direction but it with slight different market structure so if we had actually noticed the sweep of liquidity on gold before they bullish movement started we would have actually noticed that silver was also in a bullish move

Quoted - nsg_usd

Alright. Good it's still pushing. I'll expect it to get to the upper boundaries of the Channel

I had already closed at 57k profit but price is still going up I expect it to reach 67,000 for BTC price currently at 66,100

Quoted - nsg_usd

Did you take profit on this. woke up to see strong buys on gold.

I was stopped out

I forgot to set BE on the trade. I was on a sell, it triggered and was going good, not to wake up and see losses

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@nsg_usd - 1 day ago
Quoted - godspowerdan

I was stopped out

I forgot to set BE on the trade. I was on a sell, it triggered and was going good, not to wake up and see losses

Sorry bro! That's painful, but part of what we go through. I'm sure you'll recover the losses.

I'll wait for Gold buys at the 4024-price level. expecting buy continuations after a pullback from that zone.

N
@nsg_usd - 1 day ago
Quoted - asuquokelvin

I had already closed at 57k profit but price is still going up I expect it to reach 67,000 for BTC price currently at 66,100

BTC-That's my expectation too reaching 67000. Earlier mentioned it. But above that 68000, and we'll see price rally strongly this 3rd quarter of the year.

N
@nsg_usd - 1 day ago
Quoted - asuquokelvin

You know silver and gold actually move in the same direction but it with slight different market structure so if we had actually noticed the sweep of liquidity on gold before they bullish movement started we would have actually noticed that silver was also in a bullish move

Yeah. That's why I trade them differently. Sometimes silver can stretch it's sells or buys, why Gold will just be stalling and vice versa. And Silver has a wider spread than Gold. that makes my entry approach different for both of them. I often go extra miles to refine my entry on Silver than for Gold. And avoids Gold most times when it wants to start its drama, while I'm still trading Silver.

Quoted - nsg_usd

XAUUSD- The multi month Lows appears as a formation of double bottoms on the chart. A classical chart pattern that often signals a potential trend reversal when confluenced with other technical patterns.
Will be expecting invalidation of the Daily Bearish Trend Channel and an Imprint of the Inverted Head and shoulder to further confirm the Trend reversal.

A break above the neckline I marked with the yellow box doesn't still guarantee that gold can continue going higher even if it breaks that neckline now what will actually confirm gold bullish bias is when there is a bullish leg form after the break of the neck line in that daily time frame

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@nsg_usd - 1 day ago
Quoted - israeljasspu

I don't even trade channel it just structure

That's cool. I trade both. bigger picture of BTC. invalidation of the 68000 price level, and the rally will prolong.

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@nsg_usd - 1 day ago
Quoted - asuquokelvin

A break above the neckline I marked with the yellow box doesn't still guarantee that gold can continue going higher even if it breaks that neckline now what will actually confirm gold bullish bias is when there is a bullish leg form after the break of the neck line in that daily time frame

I'm not bothered about what happens above or not the neckline at the moment. My interest is in catching that ride to the neckline. When price gets there, then It'll be clearer if it will break above or not.

Internally Gold is bullish, and that's my bias for now.

N
@nsg_usd - 1 day ago
Quoted - asuquokelvin

Price was only rebalancing back to a lower time free mother block because we all failed to see the external liquidity sweep that took place before the bullish movement started

You were carried away with the sells, since Gold has been bearish for long. That's why you failed to see it.
It's just like I mentioned last week that price is at a major support and won't break easily. Once price is at Key Support after a long sustained bearish trend, I'll stop looking for sells, and If I'm to trade I'll only look for buys. Sells at that moment are exhaustion sells, unless price breaks below the level before I can continue looking for sells again.

I don't watch out for sweeps; I watch out for zones, patterns, and confluences.
the data available to retail traders is too shallow to be able to Identify where the real sweeps take place. we are just trading our imaginations from what we learnt on media, not the real thing that is going on in banks and higher financial institutions.

Quoted - nsg_usd

BTC-That's my expectation too reaching 67000. Earlier mentioned it. But above that 68000, and we'll see price rally strongly this 3rd quarter of the year.

Unless BTC invalidates a very vital key level I will continue buying on pullbacks, I have marked my next reaction zone, to buy again

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