It has been trading in balance for over a week and now finally has broken out. Look for long opportunity.
Long at deep correction, i.e. 70% - 100% of the last move.
Only go long after price breaks current resistance zone, and achieve at least till 1300.
Looks like a good area for entry now :) Great risk reward, tight stop loss
It may be too early to call the end of the long term uptrend. But there's definitely an opportunity to sell at 61.8% of the last swing, with good risk reward ratio.
Gold's probably gonna go higher, but entering now offers poor risk reward ratio. Patience, and wait for better entry. If it runs, let it be.
Sometimes, it's best not to trade. While the longer trend is up, but the recent spikes down are filled with angry sellers. It could be the end of the trend. If so, the buyers will be very aggressive to defend their position. That's precisely what we are seeing in the market for the past two weeks. So, prefer not to trade until it's clearer.