A Possible Bullish Setup on XAUUSD
Hey Traders,
The current panic in the market about the situation SVB got themselves into and other commercial banks shaking in their boots, causing some freakish fear to depositors and investors about their money.
Well, more investors are dipping into Gold bullion vault and they are making a run for Gold .
This could lead to a further bullish run.
I don't want to buy XAUUSD at this price $1.907-10, it is at a highly premium area, even tho it is forming a nice bullish flag pattern and a breakout above the upper band could initiate a new buying strength.
But, i am anticipating for a 50% - 61.8% Fibonacci correction level to look for a potential buy opportunity.
You can watchout for this as well.
PS: It's a Swing trade setup.
The current panic in the market about the situation SVB got themselves into and other commercial banks shaking in their boots, causing some freakish fear to depositors and investors about their money.
Well, more investors are dipping into Gold bullion vault and they are making a run for Gold .
This could lead to a further bullish run.
I don't want to buy XAUUSD at this price $1.907-10, it is at a highly premium area, even tho it is forming a nice bullish flag pattern and a breakout above the upper band could initiate a new buying strength.
But, i am anticipating for a 50% - 61.8% Fibonacci correction level to look for a potential buy opportunity.
You can watchout for this as well.
PS: It's a Swing trade setup.
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