XAUUSD is breaking the consolidation triangle resistance
XAUUSD is breaking above the consolidation triangle resistance 1906. A confirmed continuation above this level will give us a higher probability of the long trade entries. A rejection here and a break above 1.8000 is now required for the upside reversal and a pullback. The overall medium-term is downtrend but we need to see a confirmed continuation below 1868 is required for a reversal and an extension lower. A break above 1906 resistance is a sign that the consolidation is over and we could have an extension higher.
Note – We are inclined to long trade entries with the stop loss below 1900.
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