XAUUSD
has broken all 15m 30m 1hr and on 4hr chart it also closed above DC, whenever DC's upper line has been breached on a higher time frame like 1hr or 4hr chart, it represents high chance for further breakout to the upside, be expect a big wave coming ahead. Current breakout is further validated by the breaking of the recent downtrend, altogether technically these signals give me a confirmation of the upcoming leg up towards 1820 levels at least before challenging 1860 which i think will happen sometimes next week. Current 1795-96 is only a temp resistance given recent price action this resistence an be invalidated easily upon the next challenge, the retreat back to 1780 gives a good entry opportunity, any price above 1772 is a fair entry level. Since its in the progress of breaking out consider short term it's still within the downtrend channel, thus any buy will need strict stop loss which I'll set just below recent low @ 1748.
Let's see how this play out.
Let's see how this play out.
Good luck and always splay according to your own trading plan!