Best Price-Action Strategy to trade XAUUSD and XAGUSD

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@nsg_usd - 1 month ago
Quoted - godspowerdan

Gold is showing bearish interest

I'm expecting price to break lower for more confirmation

XAUUSD Trade Projection
Timeframe: 4hr
Technical Outlook: Ascending Broadening Wedge
the ascending broadening wedge is often known to form in continuation trends, and when invalidated results in trend reversals. But it also forms at beginning of trends signifying trend expansion, and buyers are beginning to gain dominance after a sustained bearish trend.

For GOLD, A break above the 4135 price level, and there will be a strong rally to 4251. invalidation of the ascending broadening wedge before we can expect any strong bearish move.

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@nsg_usd - 1 month ago
Quoted - asuquokelvin

The next session should confirm the bias. A strong hold above 4135 after the volume pattern completes would support continuation, but rejection at that level could signal another liquidity grab before the next move.

The 4135 price level kept resisting price from rally further this week. But i'm anticipating price to break above it next week. Price declined down to 4095 to complete the volume pattern create balance with a double bottom and then rally again toward 4135.

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@nsg_usd - 1 month ago
Quoted - israeljasspu

Good view am bullish too

All right cool. Let's watch out for a break above the current price region

I
@israeljasspu - 1 month ago

Am bearish on xau

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@nsg_usd - 1 month ago
Quoted - israeljasspu

Am bearish on xau

I'll watch out for this trendline invalidation before i can go bearish on XAU. For now i'm bullish.

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@asuquokelvin - 1 month ago
Quoted - nsg_usd

BTC- a break above that price level and we'll witness the next rally to 67000 price region

On the 12hr timeframe BTC is already showing a bearish move , a break below that level I marked will push price downwards so let's just look at that zone for a rejection reaction or a break below

A
@asuquokelvin - 1 month ago
Quoted - nsg_usd

The 4135 price level kept resisting price from rally further this week. But i'm anticipating price to break above it next week. Price declined down to 4095 to complete the volume pattern create balance with a double bottom and then rally again toward 4135.

The double bottom adds weight to the bullish case, but I'd still want to see a decisive close above 4202. That would confirm buyers have absorbed the selling pressure and improve the odds of continuation. Below 4034 I confirm more sells

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@nsg_usd - 1 month ago
Quoted - godspowerdan

This is what i have on Gold for today

How did this go? i didnt' spot the sells on time.

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@nsg_usd - 1 month ago
Quoted - godspowerdan

That will be a confirmation i'll be looking out for

BTC Analysis Update
Price was unable to break above the 64411 price region. It rather retreated from the resistance level with a bearish drop back to 62035 internal support level today monday, invalidating the 4hr bullish trend channel.

G
@godspowerdan - 1 month ago
Quoted - nsg_usd

How did this go? i didnt' spot the sells on time.

I wasn't triggered, price didn't even reach my area of interest

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@nsg_usd - 1 month ago
Quoted - godspowerdan

I wasn't triggered, price didn't even reach my area of interest

oh. okay. I'll watch out for it's next reaction at the Support region.

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@nsg_usd - 1 month ago
Quoted - godspowerdan

From your chart, price has broken that channel so I expect price to start giving bearish orderflow

BTC- the sell momentum is strong. I'll expect buy reactions from the 61046 price region. A break below and we'll witness a drop back at the 59000 price region.

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