Best Price-Action Strategy to trade XAUUSD and XAGUSD

N
@nsg_usd - 2 months ago

XAGUSD (Silver): Daily Update
Bias: Bullish
Technical View: Ascending Bullish Channel

Analysis: Silver is bound to a bullish ascending channel, showing price rally for the past weeks, and current consolidation phase, this week.
Price broke above the 63.20 price level and has been reacting on it today, trying to decide, whether to break below for a sell, or respect the level, and push for buy continuations.

N
@nsg_usd - 2 months ago
Quoted - nsg_usd

Silver: But if price does not form a solid Low at the 63.20 price level, then I'll expect sell continuations down to 60.95.

Silver: The daily Demand zone is another valid Confluence to support the bullish bias. the daily candlestick pattern formation will finalize the conclusion on market's decision for the rest of the week.

N
@nsg_usd - 2 months ago
Quoted - nsg_usd

Silver: But if price does not form a solid Low at the 63.20 price level, then I'll expect sell continuations down to 60.95.

XAGUSD- daily update
The daily low formed as price could not break below the 63000 support level. but rallied strongly from the zone.

N
@nsg_usd - 2 months ago

XAUUSD- Update:

Expecting pullbacks on gold next week possibly back to 4500 support price level.

N
@nsg_usd - 1 month ago

XAUUSD- Daily Analysis Update
Bias: bullish
Technical Outlook: Bullish Ascending Channel
Analysis- The new week started with buys, with price rallying up to 4680 price level before short retracements starts kicking in.
The price level confluences with the upper boundaries of the Bullish channel.

N
@nsg_usd - 1 month ago
Quoted - nsg_usd

Gold- On 4hrs, A bearish Engulf has formed at the upper boundaries of the channel. This signals a potential pullback phase is about to start after the sustained bullish leg.

Also where price is, is a daily supply zone that formed in May, and after the supply zone, price sold down to 4,507. I'll be expecting same sells down to 4,507 and looking forward to trading it, with entry at 4,660, SL 4,690, and TP first at 4,600

N
@nsg_usd - 1 month ago
Quoted - nsg_usd

Also where price is, is a daily supply zone that formed in May, and after the supply zone, price sold down to 4,507. I'll be expecting same sells down to 4,507 and looking forward to trading it, with entry at 4,660, SL 4,690, and TP first at 4,600

On 15mins, Price has broken out of this 15mins Rising Wedge pattern, and I'll be waiting for the retest of the lower boundaries trendline as a resistance at the 4659 price level- as my entry price, and SL at 4681 price level.

N
@nsg_usd - 1 month ago
Quoted - nsg_usd

I've set my Buy limit order, and waiting for it to trigger.

Price took out my sell limit order and drove for the sells. That means my SL was too tight.

N
@nsg_usd - 1 month ago
Quoted - nsg_usd

Price took out my sell limit order and drove for the sells. That means my SL was too tight.

Gold-Expecting Bearish price reactions at the 4680 level or the 4660 level as entry for shorts, with SL at 4701 and TP at 4600.

G
@godspowerdan - 1 month ago
Quoted - nsg_usd

Price took out my sell limit order and drove for the sells. That means my SL was too tight.

The sl wasn't tight. Price was still bullish when you sell order was triggered

A
@asuquokelvin - 1 month ago
Quoted - nsg_usd

Gold-Expecting Bearish price reactions at the 4680 level or the 4660 level as entry for shorts, with SL at 4701 and TP at 4600.

Looking closely there is an fvg at 4661.611 to 4675.105 although the level has not been mitigated, and that gives more chances for a bullish move from the 15min into the FVG before price starts going down

N
@nsg_usd - 1 month ago
Quoted - godspowerdan

The sl wasn't tight. Price was still bullish when you sell order was triggered

I've set another Sell limit order
entry: 4676, SL 4701, TP- 4550
If it takes out my SL again this time, then I'll just leave it be.

A
@asuquokelvin - 1 month ago
Quoted - asuquokelvin

Looking closely there is an fvg at 4661.611 to 4675.105 although the level has not been mitigated, and that gives more chances for a bullish move from the 15min into the FVG before price starts going down

I entered the gold trade after a pullback base on my explanation earlier that gold is yet to fill the fvg above 4661.611 to 4675.105 and because of that price had a chance to go higher to fill the fvg before selling, my target is at the midpoint of the fvg

A
@asuquokelvin - 1 month ago
Quoted - asuquokelvin

I entered the gold trade after a pullback base on my explanation earlier that gold is yet to fill the fvg above 4661.611 to 4675.105 and because of that price had a chance to go higher to fill the fvg before selling, my target is at the midpoint of the fvg

At this point price is entering the lower level of my fvg point level I will now close my trade and am done for the day, the best trade is just a simple model , and I have just closed at 26k at 4661.899 level which is the lower boundary of the fvg level

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