Best Price-Action Strategy to trade XAUUSD and XAGUSD

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N
@nsg_usd - 3 days ago
Quoted - asuquokelvin

Before buying wait for a weekly bullish Reason then observe the daily or 4hrs for a key structure break to the upside, but gold is not really at demand yet, I mean weekly demand

Gold is forming a solid support level at the Daily Demand zone with the potential double bottom formation on the daily timeframe. This is another confirmation that it will likely not drop lower to fill the bullish imbalance but likely continue the bullish rally next month.

Take for example BTCUSD price action. It created the same bullish Imbalance, and when the new month started, it was bearish and looking like it will start a full correction sell to fill up the bullish imbalance, but it didn't. It rather consolidated briefly and then continued its rally.

There's a high chance of similar case repeating itself in Gold.
At the same time, Price has the final say and so we'll watch and see.

N
@nsg_usd - 3 days ago
Quoted - godspowerdan

That's really long term

It looks so. But Gold can make that kind of move in one or two days.
It has done such move on Wednesday 5th August, and also on Wednesday 19th August. Both of them this year.

N
@nsg_usd - 3 days ago
Quoted - godspowerdan

But Gold is still bearish

Not for long.
This Potential double bottom formation on the Daily is signalling reversal on Gold. once today closes and the lows confirm solidly, it's the intraday channel that will be left to be invalidated.

N
@nsg_usd - 13 hours ago

Gold Trade Update
I went long on Gold last week Friday.
Entry: 4280
SL: 4224

I held over the weekend, and I got stopped out this morning at 4224.74.

N
@nsg_usd - 7 hours ago

XAGUSD- Trade Setup
Trade Type: Long
Entry: 61.27
SL-60.70

N
@nsg_usd - 7 hours ago
Quoted - nsg_usd

XAGUSD- Trade Setup
Trade Type: Long
Entry: 61.27
SL-60.70

Reason for the Silver Buys

After the heavy sells from Asian session through London Session, the last 4hr candle formed a bullish harami candlestick pattern at a zone of interest (60.98).
I saw opportunity for intraday buys, Then I took the trade.
Entry: 61.27
SL: 60.70

A
@asuquokelvin - 7 hours ago
Quoted - nsg_usd

Reason for the Silver Buys

After the heavy sells from Asian session through London Session, the last 4hr candle formed a bullish harami candlestick pattern at a zone of interest (60.98).
I saw opportunity for intraday buys, Then I took the trade.
Entry: 61.27
SL: 60.70

I like the confluence here. After that sustained selloff, the 4H bullish Harami at a key reaction zone makes the intraday long more compelling. The defined stop below 60.70 also keeps the invalidation tied to the setup instead of the noise.

N
@nsg_usd - 2 hours ago
Quoted - asuquokelvin

I like the confluence here. After that sustained selloff, the 4H bullish Harami at a key reaction zone makes the intraday long more compelling. The defined stop below 60.70 also keeps the invalidation tied to the setup instead of the noise.

After the first bullish 4hr candle formed, becoming a bullish harami as well, Silver has now entered a consolidation phase giving opportunity for scalps. I'll be going for buys.
Entry-61.042
SL-60.67
TP-61.77

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