I mentioned this scenario in my weekend analysis and yesterday, XAUUSD finally broke out of the Bullish Flag.
There's a high chance that the bullish trend may continue till 1700. So, sellers need to be careful here and wait for a confirmation
before selling.
Buyers probably should avoid buying now as it will be akin to chasing the price. The risk/reward ratio for buyers doesn't look too good at the moment.
However, anyone who already bought last week can definitely hold their trades.
There's a high chance that the bullish trend may continue till 1700. So, sellers need to be careful here and wait for a confirmation
before selling.
Buyers probably should avoid buying now as it will be akin to chasing the price. The risk/reward ratio for buyers doesn't look too good at the moment.
However, anyone who already bought last week can definitely hold their trades.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.